Dismal economic data sent stocks lower.
The stock market moved lower on Thursday, despite strong earnings from major tech companies, after another sobering jobless claims report showed millions more Americans filing for unemployment.The Dow Jones Industrial Average was down 1.3%, over 300 points lower, at Thursday’s open, while the S&P 500 fell 1.1% and the Nasdaq Composite lost 0.5%.
Another 3.8 million people filed temporary unemployment claims last week, according to data released by the Labor Department., as the coronavirus crisis continues to force business closures, layoffs, and furloughs on an unprecedented scale.—its steepest decline on record.
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