The Dow Jones Industrial Average had its worst day in 2020 and stock futures did not change overnight on Thursday.

The Dow Jones Industrial Average futures were almost flat. S&P 500 futures traded near the flatline and Nasdaq 100 futures ticked up 0.2%.

These moves were made after stocks fell sharply during Thursday’s regular session. The Dow fell more than 1000 points, while the tech-heavy Nasdaq Composite dropped nearly 5%. Both indexes saw their highest ever levels. worst single-day drops since 2020. The S&P 500 fell 3.56%, its second-worst day of the year.

Thursday’s loss erased Wednesday’s large rally post Fed Reserve meeting. Fed Chair Jerome Powell ruled out the prospect of larger rate hikes on Wednesday, sending the S&P 500 and the Dow to their best daily gains since 2020.

“Yesterday it was more relief, the optimism and the hope. … …There’s more realism in the market today,” Michelle Cluver (portfolio strategist, Global X ETFs), said on Thursday.

Technology stocks bore the bruntThe steep fall in cloud companies and mega-caps was evident on Thursday.

Despite Thursday’s wipeout, the S&P 500 is on pace to close the week up 0.4%. The Dow has a slight edge to close the week higher while the Nasdaq composite is 0.1% lower.

Investors look forward to Friday’s release of the April jobs report. Dow Jones polled economists to find that nonfarm payrolls will see 400,000 new jobs, slightly less than the 431,000 they saw in March. Dow Jones predicts that the unemployment rate in April will be 3.5%, down from 3.6% March.