Stock futures extended losses after U.S. jobless claims ticked higher to 898,000, more than expected and the highest since August.
Stock Futures Fall, Jobless Claims Rise
Economists were expecting 830,000 people to file initial unemployment claims. Continuing claims topped 10 million, as the economy continues to reel from the coronavirus pandemic.
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Dow Jones Industrial Average futures were off over 330 points, a decline of 1%, while NASDAQ Composite and S&P 500 futures were both down more than 1%. Thursday is on pace to be the third straight down day for stocks.
The surprise jump in jobless claims comes as parts of Europe started another round of lockdowns to contain the coronavirus pandemic and U.S. lawmakers expressed doubt that another round of fiscal stimulus would happen.
European COVID-19 Lockdowns Return
France said it would impose a new curfew in Paris to curb the rise of COVID-19 cases in the country, while the U.K. imposed a three-tiered lockdown system put forth by Prime Minister Boris Johnson. Liverpool is the first city to be placed under the tightest restrictions, while speculation swirls that London may be next. Read more at FOX Business