Stocks fell on the news that just over 1.1 million people in the US filed new claims for jobless benefits last week, a much steeper rise than expected.
With the coronavirus continuing to ravage the country and containment measures keeping businesses closed, minutes from the Fed's July meeting showed it was concerned about the recovery, as help for small businesses, extra money for the jobless and direct payments to all Americans come to an end. "The Fed layered on the risks and caution thick, but didn't come up with any sweeteners for the market in the shape of more easing.""There is a big risk the economy may not recover as strongly or as quickly as had been priced in by US markets," said ThinkMarkets analyst Fawad Razaqzada.
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