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USA stocks tumbled in a volatile day of trading Friday as a technology rout rattled global markets, with concerns about rising rates and the prospect of slowing economic growth around the world wiping out Wall Street's 2018 gains for the second time this week.

The S&P 500 plunged 84.59 points, or 3.1 percent, to 2,656.10, marking its sixth straight losing session, while the tech-heavy Nasdaq dropped over four percent. The Dow sank 1.7 percent and the S&P 2.3 percent, with the S&P's session low taking it more than 10 percent below its September 20 all-time closing high.

Declining issues outnumbered advancers for a 3.95-to-1 ratio on the NYSE and a 2.82-to-1 ratio on the Nasdaq.

The share values of several tech giants all fell on Wednesday, including Facebook (down 5.41 percent), Amazon (down 5.91 percent), Google's parent company Alphabet (down 5.17 percent), AT&T (down 8.08 percent) and Netflix (down 9.4 percent).

The S&P 500 is down 111.68 points, or 4 percent.

The S&P 500 index rose 49 points, or 1.9 percent, to 2,705.

The Russell 2000 index gained 36 points, or 2.5 percent, to 1,505.

Reacting after hours, Netflix dipped 3 percent and Facebook, which reports results on October 30, lost 2.3 percent.

The benchmark S&P 500 index in the U.S. is down more than 1.5%, falling nearly 10% from its peak set earlier in October.

Brent crude, the benchmark for worldwide oil prices, dropped 0.5 percent to $76.52 a barrel in London.

Meanwhile, today's data from the U.S. showed that the real GDP expanded by 3.5% in the third quarter according to the first estimate of the U.S. Bureau of Economic Analysis. Japanese telecom and energy giant Softbank lost 4.4 percent.

In London, the FTSE 100 retreated, closing down 0.9% at 6,939.56. But the Philadelphia Semiconductor index .SOX rose 2.3 percent, helped by Xilinx's 15 percent jump on its strong quarterly report.

The Nasdaq dropped almost 2 percent, sharply cutting its gains for the year and moving deeper into correction territory, while the blue-chip Dow shed 1.1 percent and the benchmark S&P fell 1.56 percent, putting under threat their slim gains for the year.

The slide in bond yields came as traders sought out lower-risk assets.

The Dow fell 474 points, or 1.9 percent, to 24,494. In Asia, Japan's benchmark Nikkei 225 lost 0.4 percent, while South Korea's Kospi dropped 1.8 percent.

European markets were mostly higher.

Furthermore, the latest figures from the US Commerce Department revealed that new home sales fell to a two-year low - the latest sign that rising mortgage rates and higher property prices were hurting demand.

MARKETS OVERSEAS: Major indexes in Europe finished mixed. Brent crude, used to price worldwide oils, declined 72 cents to $75.45 a barrel. Hong Kong's Hang Seng sank 1.1 percent.

The dollar rose to 112.27 yen from 112.23 yen.