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Dow futures trade lower but pare loss after weekly historic jobless claims surge to 3.2 million from about 282K a week ago – MarketWatch

U.S. stock-index futures briefly pared losses Thursday morning, but were still holding sharply lower, after a report on weekly jobless claims came in at a record level, reflecting the temporary closures of businesses across the nation due to the coronavirus outbreak. The number of Americans who applied for unemployment benefits last week rocketed to a record 3.28 million, according to the most recent report, from 282,000 claims in the prior week period. Futures for the Dow Jones Industrial Average
YMM20
DJIA
were down 217 points, or 1%, at 20,817, those for the S&P 500 index
ESM20
SPX
fell 1% at 2,441, while the Nasdaq-100 futures
NQM20
COMP
declined 0.9% at 7,401. The seasonally adjusted increase in initial jobless claims from March 15 to March 21 was the largest ever, easily crushing the previous record of 695,000 in 1982. Just a few weeks ago, new claims hovered in the low 200,000s and stood near a 50-year low.

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