Wall Street drops on sharp rise in virus cases, elevated jobless claims
- Wall Street’s main indexes were largely flat on Thursday, as gains in financial and energy shares helped recoup early losses on an alarming rise in new coronavirus cases and elevated jobless claims.
All three indexes briefly turned positive in the session, a day after posting their worst day in two weeks. “But without some new catalyst to give market participants some optimism, stocks might not be able to move much higher either.” Meanwhile, data showed the number of Americans filing claims for unemployment benefits fell less than expected last week likely as hiring by reopening businesses is being partially offset by a second wave of layoffs.
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