Comment on Stock market today: Indexes tank as data paints a negative picture for the economy

Stock market today: Indexes tank as data paints a negative picture for the economy

In July, jobless claims reached their highest in almost a year.Bryan Woolston/ReutersUS stocks nosedived on Thursday after several discouraging economic data points.Jobless claims soared past estimates to the highest level seen in nearly a year.The ISM manufacturing index dropped from 48.5% in June to 46.8% in July, marking an eight-month low.US stock indexes saw a deep sell-off on Thursday as a combination of rising unemployment and slowing economic indicators weighed on markets.In the labor market, new data showed jobless claims came in at 249,000 for last week, above estimates of 236,000.

 

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