⁍ All three major U.S. stock indexes posted a second straight week of declines.
⁍ The heavily weighted S&P 500 technology index .SPLRCT was down 0.8% on the day.
⁍ The S&P 500 real estate sector .SPLRCR and financials .SPSY also sold off sharply.
– On Wednesday, 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. On Wednesday, 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. On Thursday, the Labor Department’s report showed that while fewer Americans filed new claims for unemployment benefits last week, the number remained perched at extremely high levels. Adding to concerns about a stalling recovery, the Labor Department’s report showed that while fewer Americans filed new claims for unemployment benefits last week, the number remained perched at extremely high levels. Last week, all three major US stock indexes posted a second straight week of declines as investors sold tech-related names that had powered the S&P 500 to record highs in a dramatic rally from the March lows, per Reuters.
Source: https://www.reuters.com/article/usa-stocks/us-stocks-wall-st-falls-as-tech-sells-off-again-jobless-claims-still-high-idUSL1N2GE24N