U.S. stocks experienced a broad sell-off on Thursday, with the Nasdaq leading the decline as the tech sector continued its downward spiral. The S&P 500 and Dow Jones also felt the pressure, reflecting growing investor unease. Concerns about AI's impact on established software companies fueled the downturn, overshadowing positive earnings from some sectors.

Bitcoin prices plunged, falling below $63,000, erasing gains from President Trump's second term, signaling a loss of investor confidence. The cryptocurrency market is facing a potential bear market, with analysts predicting a possible bottom in the summer. Elsewhere, silver prices also plummeted, fueled by Chinese buyers dumping their holdings, adding to the day's overall market volatility.

Adding to the market's woes, fresh data indicated weakness in the labor market. Weekly jobless claims rose, and job openings decreased to their lowest level since 2020. Investors are now closely watching Amazon's earnings report, particularly the performance of its AWS cloud unit. The market's reaction to these factors will likely set the tone for trading in the coming days.