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  • S&P 500 Index is down more than 1% on Thursday.
  • Illumina Inc (ILMN: NASDAQ) shares suffer heavy losses for second straight day.
  • Mosaic Co (MOS: NYSE) is up nearly 6% as the top gainer.

The S&P 500 Index (SPX) started the day deep in the negative territory but erased a large portion of its opening gap during the first half of the session. However, the risk-averse market environment triggered another selloff and the SPX now remains on track to close the day more than 1% lower.

S&P 500 top movers

On Wednesday, Illumina Inc (ILMN: NASDAQ) shares lost more than 8% after a report from Bloomberg suggested that the company was in talks to buy cancer testing startup Grail. ILMN extended the slide on Thursday and touched its lowest level since early April at $293.88. As of writing, ILMN was down 7.12% on the day at $299.

American Tower Corp (AMT: NYSE), DISH Network Corp (DISH: NASDAQ) and NetApp Inc (NTAP: NASDAQ) shares are down between 5% and 4.3% as the other top percentage decliners on the day.

On the other hand, crop nutrient producer Mosaic Co (MOS: NYSE) is the top performer of the day. At the moment, MOS is up 6.05% at $19.19. Meanwhile, Westrock Co (WRK: NYSE) and General Electric Co (GE: NYSE) shares both gain more than 4%.