Fresh worries about widening unemployment are adding investors' list of concerns about the economy and are weighing on stocks in early trading.
Fresh worries about the job market have emerged after weekly claims for unemployment benefits rose to a 16-year high rather than decreasing as had expected. The Labor Department has reported that new applications for jobless benefits rose to a seasonally adjusted 542,000 last week.
In the opening minutes of trading, the Dow Jones industrial average is down 55 at the 7,939 level. Investors are watching to see whether the Dow can stay above the 7,882.51 trading low seen on Oct. 10.
The Standard & Poor's 500 index is down about 0.83 percent, while the Nasdaq composite index is down 0.52 percent. |
