Dow Drops Below 10,000 Amid Job Market Worries
The Dow fell below 10,000 for the first time today since November amid worries about the US job market. The number of newly laid-off workers filing initial claims for jobless benefits rose unexpectedly again last week. The rise is the fourth in the last five weeks.
The Dow fell below 10,000 Thursday for the first time since last November amid worries about the US job market and Europe’s ability to get a grip on its debt.
In the final, hair-raising minute of trading, the Dow Jones Industrial Average fell below that 10,000 mark, before popping back up a few points to end at 10,002.18.
When the dust settled, the Dow lost 2.6 percent, led by Bank of America, Merck and JPMorgan. Just one of the 30 Dow components was higher — Cisco.