The global market sell-off continued overnight, with Wall Street falling sharply amid a volatile trading session.
Tech stocks in the S&P 500 fell 2.7 percent Wednesday for the steepest loss among the 11 sectors that make up the index.
US consumer prices rose less than analysts had forecast in September, reducing expectations the pace of inflation is accelerating despite a tightening labor market.
Investors are wary of possible further US interest rate hikes.
"People fear building prices into the system, both from China trade problems, other tariffs the US has put into place, wage pressure, and today there is a little bit of concern about what the Hurricane in Florida could do to energy prices". In 1956, the Fed raised interest rates, while worldwide events like the Suez Crisis and the Hungarian Revolution caused investors to pull back. On Wednesday he said he thought policy makers were "making a mistake" and said the Fed had "gone crazy".
Stephen Innes of OANDA said that Trump's comments have put pressure on the dollar but "the severity of this equity rout could bring the hawkish Fed narrative into question".
"As stocks go up, tech goes up more than the stock market".
Sentiment also has been dampened by the spreading U.S.
"It is a ideal storm for technology right now with the tariff war with China and weaker demand for chips", Nauman said. The worldwide lender cited trade tensions and emerging markets as it downgraded its global growth forecast for this year and next.
The Dow Jones Industrial Average fell 545 points after dropping 831 points Wednesday. Esterline climbed 30.6 percent to $115.97 while TransDigm slipped 2.9 percent to $341.20. Tiffany plunged 10.2 percent to $110.38 and Ralph Lauren fell 8.4 percent to $116.96.
Wall Street stocks plunged Wednesday, with major indices losing more than three percent in a selloff prompted by the sudden jump in USA interest rates.
Stocks retreated Wednesday, with the Dow Jones industrial average losing more than 800 points in a selloff that accelerated in the final minutes of trading. That decline came after the Dow's largest single-day drop in history, when it fell 1,175 points earlier that month.
Netflix shares fell by 6pc and have now fallen by 12pc in the last five days.
Asia stock indexes added to the global market's pain on Thursday, with benchmarks in Shanghai, Shenzhen and Tokyo all skidding between 4 and 5 percent. Technology companies and retailers, including longtime market favorites Apple, Alphabet and Amazon, extended their recent slide. Chip gear producers Applied Materials, Teradyne and ASML Holdings fell between 3.5 percent and 4.6 percent.
Francis Tan, an investment strategist at UOB private bank, believes the markets will likely pick up in the US session.
The dollar index fell 0.31 per cent, with the euro up 0.4 per cent to $1.1564. Brent crude, the global standard, lost 2.2 percent to $83.09 a barrel in London.