Stocks fall after record jump in wholesale prices, rise in jobless claims
U.S. stocks turned lower Thursday as investors considered a fresh read on weekly unemployment claims and wholesale price inflation out of Washington. Tech stock underperformed, and the Nasdaq dropped more than 1%.
The Labor Department’s weekly jobless claims report showed an unexpected rise in first-time unemployment filings for last week, with these increasing to 230,000. Still, this remained near pre-pandemic levels, and continuing jobless claims improved to their lowest level since 1973….