WASHINGTON, June 23 (UPI) -- U.S. markets dropped sharply Thursday with the Labor Department announcing first-time jobless benefits claims escalated in the week ending last Saturday.
The Federal Reserve said Wednesday the economic recovery had slowed to "moderate" improvements and the next economic release, jobless benefits data, supported the Fed's assessment.
First-time claims rose by 9,000 in the week in which uncertainty over Greek debt persisted.
In early afternoon trading, the Dow Jones industrial average shed 151.78 points or 1.25 percent to 11,957.90. The Standard & Poor's 500 index lost 14.24 or 1.11 percent to 1,272.90. The Nasdaq composite index lost 7.46 or 0.28 percent to 2,661.73.
The benchmark 10-year treasury note rose 17/32 to yield 2.91 percent.
The euro fell to $1.486 from Wednesday's $1.4355. Against the yen, the dollar rose to 80.5655 yen from Wednesday's 80.29 yen.
In Tokyo, the Nikkei 225 index lost 0.34 percent, 39.69, to 9,596.74.
In London, the FTSE 100 index shed 1.71 percent, 98.61, to 5,674.38.
Source: www.upi.com
The Federal Reserve said Wednesday the economic recovery had slowed to "moderate" improvements and the next economic release, jobless benefits data, supported the Fed's assessment.
First-time claims rose by 9,000 in the week in which uncertainty over Greek debt persisted.
In early afternoon trading, the Dow Jones industrial average shed 151.78 points or 1.25 percent to 11,957.90. The Standard & Poor's 500 index lost 14.24 or 1.11 percent to 1,272.90. The Nasdaq composite index lost 7.46 or 0.28 percent to 2,661.73.
The benchmark 10-year treasury note rose 17/32 to yield 2.91 percent.
The euro fell to $1.486 from Wednesday's $1.4355. Against the yen, the dollar rose to 80.5655 yen from Wednesday's 80.29 yen.
In Tokyo, the Nikkei 225 index lost 0.34 percent, 39.69, to 9,596.74.
In London, the FTSE 100 index shed 1.71 percent, 98.61, to 5,674.38.
Source: www.upi.com
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