Wall Street plunges as economic data indicates slowing economic recovery, tech stocks falter

  • 📰 NBCNews
  • ⏱ Reading Time:
  • 66 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 30%
  • Publisher: 86%

United States News News

United States United States Latest News,United States United States Headlines

Wall Street plunges as economic data indicates slowing economic recovery.

since the pandemic began, led Thursday's pullback as investors cashed in their highly valued tech stocks.

Apple marked its worst day since March, with shares down by more than 7 percent. Amazon, Salesforce, Alphabet and Microsoft all saw declines in the 5 percent range.from its platform for the week leading up to Election Day, Nov. 3, and remove posts that try to suppress or discourage voting. Market watchers were parsing a variety of economic metrics, including Thursday's weekly jobless claims data, which beat analysts' expectations, revealing thatWhile this number is the lowest weekly total since the pandemic, it is still four times the pre-pandemic figure. Continuing claims indicate that 13.3 million people are still filing for ongoing benefits.

Data from the Commerce Department also showed that the U.S. trade deficit soared in July to $63.6 billion, the highest level in 12 years. On Wednesday, the Congressional Budget Office said the federal debt is expected to outpace the country's gross domestic product by the end of 2021. After the slew of disappointing data, investors now turn their focus to Friday's all-important monthly jobs report, released by the Bureau of Labor Statistics. Economists predict that the national unemployment rate will fall into the single digits for the first time since February, declining from 10.2 percent to around 9.8 percent.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

More bad news to come. There is no good reason to expect a sudden recovery.

Not good. A bumpy ride ahead.

But it's almost back to PRE COVID numbers. The Dems need the economy to tank. I hope they DON'T get their wish. NBC assumes American's are stupid..

I'm sorry, Mr. 45. What were you saying about the stock market?

WAIT !!!! DONNY said everything was going great

BLUE LIVES MATTER! Starbucks is Printing 250,000 BLM Shirts For Employees To Wear! BOYCOTT STARBUCKS!

NYCMayor The data doesnt lie..you killed business and real estate in New York City and the outerboroughs..that will be your legacy along with govcuomo who says its ok to gamble but not dine inside..

realDonaldTrump stevenmnuchin1 larry_kudlow keep DUMPING TRILLIONS into the Markets to ARTIFICALLY Prop them up for their RICH CRONIES & DONORS The Debt, Deficit & Trade Deficit CONTINUE TO EXPLODE and the carpet they keep sweeping it under can't HOLD ANY MORE ETTD

The same week as all time highs. So what?

Open America and let people get back to work and automatically the economy will be stimulated!! DemocratsAreDestroyingAmerica

Liars. FauciTheFraud put out there that there will be NO vaccine soon, contradicting the president. Again. Why he doesn't fire your a55, I don't know.

The Trump team has built such a strong economy that a large down turn in the market today left the Dow still well above 29,000 the S&P above 3400 the Nasdaq 11,400. We are still the strongest economy in the world

we are at the same levels in all three indexes that we were on 8/24/2020, that's seven days ago! FearMongers

ritaloooc69 And Trump was boasting yesterday, but we all know that that he was not realistic

Dont worry Trumps on it.

Let bring them them up again.

Is the staff of NBC cheering

It's a democratic HOAX. Everything bad is a hoax. Nothing is wrong. Everything is fine.

Cleaned out a fresh group of suckers. Time to load em up again.

so much for the bounced back economy lie......

Almost as if having thousands of small businesses fold is having an effect on the economy. Who could have foreseen it?

Fed can print unlimited amount of money. Why should we be worried

Hey realDonaldTrump ...

Make it go up smh

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 10. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

This analysis of Wall Street stock ratings is sounding a warning for Tesla and 62 other stocksAmong the Russell 1000, there are 63 companies with “sell” ratings outweighing “buy” ratings — including Tesla TufferB
Source: MarketWatch - 🏆 3. / 97 Read more »