Wall Street saw a steep decline on Thursday weighed by concerns over a possible prolonged rate hike as the aggressive tone of Feds officials implied for such approach.

The jobless claims slipped for the previous week and the private employment for December nudged up beyond expectations.

Speaking of the technology sector, many of the top companies slipped with a range from 1.0% to 2.3%.

The predictions of extended period of the interest rate raises gave some support to the treasury yields and pushed it higher.

On the other hand, for the S&P 500 index, the real estate came in the forefront with a dip of 2.9% and 2.1% slip in utilities.

The Nasdaq Composite fell 153.52 points or 1.47% at 10,305.24. The S&P 500 dropped 44.89 points or 1.17% at 3,808.09 and the Dow Jones Industrial fell 339.69 points or 1.02% to 32,930.09.

Eyes on Friday will be on the non-farm payroll figures, that will supposedly give more indications on the labour market status and the interest rate direction.