U.S. stock indexes drifted lower following some potentially discouraging data on the economy.
The S&P 500 fell 0.5% Thursday, its third loss in the last four days. The Dow Jones Industrial Average fell 0.5%, and the Nasdaq composite dropped 0.7% from its record set the day before.
A report earlier in the morning said more U.S. workers applied for unemployment benefits last week than forecast. A separate update showed that inflation at the wholesale level was hotter last month than economists expected. Adobe sank after issuing weaker-than-expected financial forecasts. Treasury yields rose in the bond market.
The Dow Jones Industrial Average fell 234.44 points, or 0.5%, to 43,914.12.
The Nasdaq composite fell 132.05 points, or 0.7%, to 19,902.84.
The Russell 2000 index of smaller companies fell 33.08 points, or 1.4%, to 2,361.08.
Copyright © 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.