Wall Street Falls After Unemployment Data

Wall Street Falls After Unemployment Data

Wall Street Falls After Unemployment Data

(Reuters) – US stocks fell on Thursday after jobless claims and renewed tech sector selloffs.

By 18.30 Moscow time, the Dow Jones index fell 0.14% to 27.992.48 points, the S&P 500 index dropped 0.59% to 3.365.66 points, and the Nasdaq lost 1.03% to 10.936.82 points.

The number of applications for unemployment benefits in the United States over the past week fell to 860,000, while analysts, based on preliminary data, predicted a decline to 850,000.

The US Federal Reserve System on Wednesday kept its key interest rate in the range of 0.00-0.25% per annum and promised to keep it at this level until inflation reaches a trajectory where it will “moderately exceed” the 2 % for “some time”.

Stocks of Facebook Inc (NASDAQ: FB), Apple (NASDAQ: AAPL), Amazon.com (NASDAQ: AMZN), Tesla Inc, Microsoft Corp (NASDAQ: MSFT), Alphabet (NASDAQ: GOOGL) Inc and Netflix Inc (NASDAQ: NFLX ) collectively lost $ 150 billion in market capitalization in the first half hour of trading.

(Shreyashi Sanyal and Devik Jain; Translated by Caleb Davis. Editor Marina Bobrova)

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