Weekly initial jobless claims increased 58,000 to 573,000, well above the forecast of 525,000 and the worst reading in 26 years. The four-week moving average rose 14,250 to 540,500, and continuing claims surged by 338,000 to 4,429,000, the highest since 1982.
Import prices in November plunged 6.7%, larger than a forecast decline of 4.9%.
The trade gap unexpectedly widened from $56.6 billion in September to $57.2 billion in October, above the estimate of $53.5 billion.
The Dow Jones Industrial Average fell 196 points (2.2%) to close at 8,565, the S&P 500 Index lost 26 points (2.9%) to 874, while the Nasdaq Composite declined 58 points (3.7%) to close at 1,508. Crude oil rose $4.46 to $47.98 per barrel, and gold ended up $11.30 at $820.10 per ounce.
Magnificent Seven Update
Daily Update Of Open Positions...Stocks & ETFs
