U.S. equity markets tumbled Thursday, on pace for the worst session since June, after Dr. Anthony Fauci dashed hopes that a COVID-19 vaccine was coming soon, contradicting documents from the Centers for Disease Control and Prevention.

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Fauci told CNN a vaccine was unlikely to be ready by the end of October. In a separate interview with NBC News' "Today," Fauci said a vaccine was likely by the end of the year.

Large-cap tech led the drop, with the Nasdaq down over 5 percent, in the final hour of trading. Tesla continued its slide as Elon Musk's electric-vehicle maker moved into correction territory, falling for a third straight day after announcing a $5 billion share sale. The stock began trading at its split-adjusted price on Monday.

The Dow Jones Industrial Average fell over 900 points, or 3 %, with Microsoft leading the decline. Read more at FOX Business