US stocks under pressure in early trade

Major US equity indices witnessed another weaker opening on Thursday as investors remained concerned about a possible pickup in inflation and surging bond yields.

During the early hour of trading, the Dow Jones Industrial Average fell over 150-points to 24,750 and the broader S&P 500 Index was down nearly 10-points to 2,672. 

However, a sharp upsurge in shares of Twitter, gaining in excess of 25% after it reported better-than-expected quarterly results, supported technology stocks, with tech-heavy Nasdaq Composite outperforming the broader markets and losing only 20-points to 7,030.

On the economic data front, initial US jobless claims fell more-than-expected to 221,000 but did little to boost sentiment. Investors now hold the view that the recent sharp swings could be the start of a deeper correction and the price-action also seems to suggest another wild ride on Thursday.