Tech sell-off weighs on Wall Street as jobless claims rise [Reuters]
GE Aerospace (GE)
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Source: Reuters
Tech sell-off weighs on Wall Street as jobless claims rise By Shreyashi Sanyal , Devik Jain 3 Min Read (Reuters) - Wall Street's main indexes fell on Thursday after data showed high levels of weekly jobless claims, while technology-related stocks resumed their slide with Apple Inc AAPL.O and Amazon.com Inc AMZN.O among the biggest drags on the Nasdaq. All 11 major S&P 500 sector indexes fell in early trading, with energy stocks .SPNY leading declines as fears of tepid fuel demand hit oil prices. Bank stocks .SPXBK slipped 1.1%, while the broader financials subindex .SPSY fell 1.0%, a day after the Federal Reserve pledged to keep interest rates low for a prolonged period to lift the world's biggest economy out of a pandemic-induced recession. But with Fed Chair Jerome Powell indicating a long road to “maximum employment”, stock markets were disappointed by the lack of firmer details around the central bank’s stimulus plan. “The bulls basically wanted more long
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