Stock market today
The US stock market fell today, Dow Jones fell more than 350 points, Nasdaq fell more than 240 points as tech stocks underperformed today and were under selling pressure. Small-cap stocks outperformed as the Russell 2000 closed marginally lower. The worse than expected weekly unemployment claims was the main catalyst for today’s stock market selloff.
Stock market today at the close
S&P 500: 3,235.66,-40.36(-1.23%)
Dow 30: 26,652.33,-353.51(-1.31%)
Russell 2000: 1,486.51,-3.64(-0.24%)
At 4:11 PM, ET time today the crude oil price was lower but the gold price higher.
Crude Oil: 41.24,-0.66(-1.58%)
The 10-yr bond yield at 4:13 PM, ET time today was at 0.5820,-0.0130(-2.18%).
Stock market news
“New weekly unemployment insurance claims rose by more than 1.4 million last week, with the level of new claims increasing for the first time since mid-March. Last week, new claims were slightly above 1.3 million.
The new claims brought the total since the week ended March 20 to more than 52 million, underscoring the devastating impact of the coronavirus pandemic and measures taken to contain it on the labor market.
Given signs of a weakening labor market, analysts are nervously eyeing another round of coronavirus-related fiscal stimulus talks in Washington, with hopes building for a compromise on unemployment payments. Economists are warning that the recovery could be jeopardized by the failure of Congress and the White House to extend a lifeline to cash-strapped consumers.”
Apple Inc. (AAPL) stock closed lower more than 4% at 371.38-17.71 (-4.55%).
Shares of Tesla, Inc. (TSLA) fell almost 5% closing at 1,513.07-79.26 (-4.98%).
Facebook, Inc. (FB) stock fell 3% with a stock price at the close of 232.60-7.27 (-3.03%).
Netflix, Inc. (NFLX) stock fell more than 2% closing at 477.58-12.24 (-2.50%).