US stocks slide as dismal unemployment data offsets new economic stimulus
Reuters/Brendan McDermid- US stocks sank Thursday as another round of dismal weekly jobless-claims data offset new economic stimulus efforts in Europe.
- US jobless claims for the week that ended on Saturday totaled 1.9 million, the Labor Department said Thursday. That exceeded the median economist estimate.
- Continuing claims, which represent the aggregate total of people actually receiving unemployment benefits, also came in higher than expected.
- Overseas, the European Central Bank boosted its emergency stimulus by $676 billion in an increased effort to combat coronavirus economic fallout.
- Read more on Business Insider.
US stocks sank Thursday as yet another week of dismal jobless claims data offset a new round of emergency stimulus from the European Central Bank.
US jobless claims for the week that ended on Saturday totaled 1.9 million, the Labor Department said Thursday. That slightly exceeded the median economist estimate. Further, continuing claims — which reflect the aggregate number of Americans receiving unemployment benefits — were 21.5 million, more than economists expected and an increase from the previous week. See the rest of the story at Business Insider
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