01:48 PM EST, 11/13/2025 (MT Newswires) -- US benchmark equity indexes were sharply lower intraday amid uncertainty around the release of key economic data following the end of a record-long government shutdown, while the technology sector came under pressure.

The Nasdaq Composite was down 2.2% at 22,889.8 after midday Thursday, while the S&P 500 fell 1.4% to 6,755.4. The Dow Jones Industrial Average shed 1.1% to 47,736.7 after closing at a new record-high in the previous session.

Among sectors, tech and consumer discretionary saw the steepest declines intraday Thursday, down 2.5% each, while energy paced the gainers.

On Wednesday, President Donald Trump signed legislation to end the longest government shutdown in US history, restoring funding after a 43-day lapse that idled federal workers and delayed the release of key economic data.

"Despite the reopening of the government, today's jobless claims and (consumer price index) reports scheduled for release are still delayed, and the (producer price index) and retail sales reports scheduled for tomorrow are likely to be as well," Stifel said in a note. "The first report that will likely be released is the September employment report as the data was collected prior to the shutdown."

The government will release the jobs report for October, but without the unemployment rate, Reuters reported Thursday, citing White House economic adviser Kevin Hassett's interview with Fox News.

The shutdown cost the world's largest economy roughly $15 billion a week, Hassett separately told reporters, citing an estimate by the Council of Economic Advisers, according to the Reuters report.

US Treasury yields were higher intraday, with the 10-year rate up 2.7 basis points at 4.11% and the two-year rate rising 2.3 basis points to 3.59%.

Nvidia ( NVDA ) shares were down 4.6%, the second-steepest decline on the Dow. Amazon.com ( AMZN ) and IBM ( IBM ) were among the worst performers on the index. Tesla (TSLA), Super Micro Computer ( SMCI ) , and Palantir Technologies ( PLTR ) were among the worst S&P 500 performers.

Tech stocks, especially those tied to artificial intelligence, have been under pressure lately amid concerns around lofty valuations.

In company news, Walt Disney's ( DIS ) fiscal fourth-quarter revenue unexpectedly decreased year-over-year amid declines in its entertainment segment. The media and entertainment giant's shares were down 8%, the worst performer on the Dow and the second-steepest on the S&P 500.

Cisco Systems ( CSCO ) was the top gainer on the Dow and the second-best on the S&P 500, up 3.8%. The networking equipment maker late Wednesday posted fiscal first-quarter results that exceeded Wall Street's estimates.

Cisco's ( CSCO ) stronger-than-expected artificial intelligence orders represented a "real surprise," Morgan Stanley said in a note as the brokerage sees a potential rerating given the company's growing AI business.

Applied Materials ( AMAT ) is scheduled to report results after the closing bell Thursday, along with others.

West Texas Intermediate crude oil was up 0.5% at $58.8 a barrel intraday.

Gold was down 0.2% at $4,205.70 per troy ounce, while silver dropped 0.5% to $53.155 per ounce.