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Zscaler was a rare bright spot for the Nasdaq on Thursday, with shares surging nearly 6% after the cybersecurity firm reported better-than-expected earnings.

(Bloomberg) -- The gap between Commonwealth Bank of Australia’s current share price and analysts’ expectations is pointing to the weakest return potential among global banking stocks.Most Read from BloombergTrump Administration Plans to Eliminate Dozens of Housing OfficesRepublican Mayor Braces for Tariffs: ‘We Didn’t Budget for This’NJ College to Merge With State School After Financial StressHow Upzoning in Cambridge Broke the YIMBY MoldNYC’s Finances Are Sinking With Gauge Falling to 11-Year L

Much like all the upheaval shaking the world, the huge swings rocking Wall Street may feel far from normal. Sharp moves for the U.S. stock market, like its recent 6% drop in just a couple of weeks, happen regularly. Stomaching them is the price investors have to pay for the bigger returns that stocks can offer over other investments in the long term.

A tectonic shift in German fiscal policy has compounded uncertainty for traders trying to bet on how fast the European Central Bank will cut rates for the rest of the year, with a change to the bank's guidance on Thursday reinforcing that. The ECB cut rates by 25 basis points to 2.50% in its sixth move since last June. That supported traders, who had already reduced bets on ECB rate cuts after a deal from Germany's next coalition partners on Tuesday to create a 500 billion euro ($541.40 billion) infrastructure fund and overhaul borrowing restrictions, partly to boost defence spending.

Shares of power chips maker Allegro Microsystems jumped Thursday in intraday trading after it rejected the latest bid by its larger rival ON Semiconductor, also known as Onsemi, describing the offer as "inadequate."

U.S. equities dipped at midday as confusion over the new tariffs by President Donald Trump led to market uncertainty. The Dow Jones Industrial Average, S&P 500, and Nasdaq were down.

BJ's Wholesale Club Holdings shares hit a record high Thursday on better-than-expected results and expansion plans.

All 11 of the S&P 500’s sectors were in retreat Thursday morning, with several of them off more than 1%.

Alibaba surged 7% on Thursday after it made one of its AI models public, signaling how the party isn't over for Chinese tech stocks.

MongoDB shares tanked 22% to lead Nasdaq decliners Thursday, a day after the database software maker's full-year forecast missed estimates.