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.
On Thursday:
The S&P 500 fell 32.94 points, or 0.5%, to 6,051.25.
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.
For the week:
The S&P 500 is down 39.02 points, or 0.6%.
The Dow is down 728.40 points, or 1.6%.
The Nasdaq is up 43.07 points, or 0.2%.
The Russell 2000 is down 47.91 points, or 2%.
For the year:
The S&P 500 is up 1,281.42 points, or 26.9%.
The Dow is up 6,224.58 points, or 16.5%.
The Nasdaq is up 4,891.49 points, or 32.6%.
The Russell 2000 is up 334.01 points, or 16.5%.
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