Dow Crashes Over 460 Points Amid Oil Price Surge

The Dow Jones index closed lower by around 464 points to 53,885.10 on Thursday, ending a five-session winning streak amid a surge in crude oil prices.

The CNN Business Fear & Greed Index remained in the 'Greed' zone with a reading of 60, indicating that investors are still optimistic despite the market's decline.

On the economic data front, initial jobless claims rose by just 1,000 to 199,000, which was lower than expected. This suggests that the labor market remains tight and could support further growth.

The S&P 500 fell 0.18% to 7,709.96, while the Nasdaq Composite slipped 0.06% at 26,348.35 during Thursday's session.