REUTERS: The S&P 500 and Dow Jones indexes dipped on Thursday as a grim U.S. jobless claims report took the shine off a strong month for stock markets globally, but encouraging quarterly earnings reports from Facebook and Tesla supported the Nasdaq.
On Thursday, the Labor Department's report showed initial unemployment claims totaled 3.84 million for the week ended April 25, a day after data confirmed the biggest contraction for the U.S. economy in the first quarter since the Great Recession. At 10:21 a.m. ET the Dow Jones Industrial Average was down 216.97 points, or 0.88per cent, at 24,416.89 and the S&P 500 was down 18.52 points, or 0.63per cent, at 2,920.99.
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