US stocks drop after another spike in jobless claims | Malay Mail

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NEW YORK, April 30 — Wall Street stocks opened lower today following another spike of jobless claims in the wake of coronavirus shutdowns, offsetting strong results from tech giants. About 15 minutes into the session, the Dow Jones Industrial Average had fallen 1.2 per cent to 24,330.61. The...

In this file photo the fearless girl statue and the New York Stock Exchange are pictured on April 20, 2020 at Wall Street in New York City. — AFP pic

About 15 minutes into the session, the Dow Jones Industrial Average had fallen 1.2 per cent to 24,330.61. Another 3.84 million US workers filed for unemployment benefits last week and the total has now passed 30 million in six weeks, according to the Labor Department data. “We are facing an economic contraction of a magnitude and speed that is unprecedented in recent history,” European Central Bank chief Christine Lagarde said.

 

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