Stocks opening lower as Wall Street heads into a correction
New York (AP) — Stocks resumed falling in early trading on Wall Street Thursday as layoffs remain stubbornly high across the country and Congress stalls on sending aid to out-of-work Americans. The S&P 500 was 0.5% lower and now is 10% below its early September high, what market watchers call a correction. Unemployment claims rose slightly to a historically high 870,000 last week, worse than economists expected. Stocks have slumped following months of strong gains. Among the reasons behind the abrupt tumble are worries that stocks simply grew too expensive following their record-setting run through the spring and summer.
Become a Subscriber!
You have read all of your free articles this month. Select a plan below to start your subscription today.
Already a subscriber? Login
