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Wall Street falls as tech sells off again, jobless claims still high

U.S. stocks fell on Thursday as technology-related shares slid for a second day and as government data showed high levels of weekly jobless claims.

9/18/2020 6:25:00 AM

U.S. stocks fell as technology-related shares extended a recent slide and high weekly jobless numbers revived fears that the economic recovery is losing momentum

U.S. stocks fell on Thursday as technology-related shares slid for a second day and as government data showed high levels of weekly jobless claims.

dropped 140.19 points, or 1.27%, to 10,910.28.Fed Chair Jerome Powell laid out a menu of factors - including wage growth, workforce participation and disparities in minority joblessness relative to whites - that must be satisfied before the Fed would view the economy at maximum employment, and even consider raising interest rates.

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“Investors love when the Fed lowers rates, because they feel that’s good for market,” Dollarhide said. “But if the Fed says we need to keep rates low for longer, then people start worrying about the economy itself.”General Electric Corose 4.4% a day after Chief Executive Officer Larry Culp said the company's free cash flow would turn positive in the second half.

Ford Motor CoF.Ngained 3.7% as it said it had begun production of the new generation F-150 pickup truck at its Michigan facility.Declining issues outnumbered advancing ones on the NYSE by a 1.61-to-1 ratio; on Nasdaq, a 1.36-to-1 ratio favored decliners.

The S&P 500 posted 9 new 52-week highs and no new lows; the Nasdaq Composite recorded 38 new highs and 18 new lows.Volume on U.S. exchanges was 9.70 billion shares, compared with the 9.47 billion average for the full session over the last 20 trading days.

Additional reporting by Shreyashi Sanyal and Devik Jain in Bengaluru; Editing by Sagarika Jaisinghani, Shounak Dasgupta and David Gregorio Read more: Reuters Top News »

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What to watch today: Wall Street set to drop with tech stocks under continued pressureTechnology stocks were set to resume their recent sell-off with the so-called FANG block all dipping at least 1% in today's premarket. BS. Tech is where growth and profits are at. Someone’s playing retail investors. CNB has become a forum for pompous CEO's & fund managers to spew trendy cliche's while bragging about their 'accomplishments' ad nauseum. Only way to stop hearing 'deplatform' to swtich to Spotify or Varney. Besides Susan Li doesn't have Sarah's whiny valley girl affect.

Wall Street slumps as most stocks fall; tech leads declinersNEW YORK (AP) — U.S. stocks are slumping Thursday morning as Wall Street continues to swirl after the Federal Reserve said it will keep interest rates at nearly zero for years to help nurse the... How about selling off because Covad-19 will haunt us into 2021? The new Netflix doc has people dumping Facebook. So much for big orange’s “bigly” stock market.

Asia-Pacific stocks set to dip as investors watch tech shares following Wall Street lossesOvernight stateside, the Nasdaq Composite fell 1.3% to close at 10,910.28.The tech-heavy benchmark briefly dipped back into correction territory, down 10% from its all-time high. ok a big descount bullish

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Kanye West says 'slavery is a choice' as he builds huge wall around his houseKanye West has compared his feud with his record label with slavery as he begged to be released from his contract, calling on other rappers to support him Ignore this. Taken well out of context. Everything he said today was correct Did he?