Dow loses more than 300 points early Thursday

July 9 (UPI) – US stocks fell early in the session Thursday after the latest Department of Labor unemployment report and a substantial loss reported by Walgreens.

The Dow Jones Industrial Average fell about 300 points after the opening bell. At 1:00 p.m. EDT, the blue chip index was down about 380 points.

The S&P 500 lost about 20 points early Thursday afternoon, while the Nasdaq advanced a dozen points.

Earlier, the Labor Department reported that an additional 1.3 million American workers had filed new jobless claims last week, down about 100,000 from the previous week.

The Walgreens Boots Alliance, a large chain of pharmacies and healthcare, also announced on Thursday its intention to lay off about 4,000 workers due to losses due to the COVID-19 pandemic. The company reported a loss of 1.7 billion in the third quarter.

Source: UPI

Leave a Reply

Your email address will not be published. Required fields are marked *