Stocks slid Thursday as weekly unemployment claims rose more than anticipated, deepening market gloom after spikes in new COVID-19 cases undermined confidence in an economic recovery.

Some 1.48 million people filed jobless claims in the week through June 20, according to the Labor Department. While that was 60,000 fewer than the week before, reflecting the reopening of businesses across the country, it still catapulted the number of positions lost since lockdowns to curb the pandemic's spread began to about 47 million.

The blue-chip Dow Jones Industrial Average fell 101 points, or 0.4 percent. The broader S&P 500 dropped 0.19 percent and the tech-heavy Nasdaq Composite was little changed.

While early hot spots like New York and New Jersey have seen cases steadily decrease, the virus is slamming the South and West, with several states setting single-day records, including Arizona, California, Mississippi, Nevada and Texas.

Three Northeastern states -- New York, New Jersey and Connecticut -- said Wednesday they would require travelers from states with high infection rates to self-isolate for 14 days upon arrival, and the International Monetary Fund warned the disease has taken a greater toll on the global economy than predicted.

Worldwide, the economy is likely to shrink 4.9 percent this year, worse than the contraction of 3 percent predicted in April, and advanced economies such as the U.S. will take the greatest hit, according to the IMF, an alliance of nations formed after World War II to foster financial stability. Read more at FOX Business