On Thursday, the stock market fell as new information intensified concerns about a potential recession, reversing gains from earlier in the week.
1.5%, or 615 points, were removed off the Dow Jones Industrial Average. S&P 500 lost 1.5%, and the Nasdaq Composite lost 1.8%. The recently rising small-cap benchmark, the Russell 2000 index, fell 2.4%.
Last week, initial unemployment claims reached 249,000, the highest since August 2023 and above a Dow Jones prediction of 235,000.
A symptom of a slowing economy, the ISM manufacturing index, which measures factory activity in the United States, came in lower than anticipated at 46.8%.
Source (CNBC)
