Disappointing economic data weighed on market sentiment.
The Dow Jones Industrial Average was down 0.5%, around 150 points, at Thursday’s open, while the S&P 500 fell 0.4% and the tech-heavy Nasdaq Composite lost less than 0.1%.last week, more than the 920,000 expected, according to the Labor Department.
The sharp uptick from the 963,000 claims in the previous week shows just how vulnerable the labor market still is as the coronavirus continues to weigh heavily on the U.S. economy. The market did pare back some of its early losses, however, after news of upcoming trade talks between the U.S. and China.on Thursday that trade officials from both sides would resume negotiations and review the phase one trade deal in the coming days.
Shares of chipmaker Nvidia, meanwhile, rose 1% after the company reported blowout earnings—with a 50% jump in revenue last quarter.
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