Investor PM: Jobless claims bring bears

Summary:Blue-chip and technology stocks were roughed up Thursday. The Nasdaq composite tumbled 74 points to 2,146.

Blue-chip and technology stocks were roughed up Thursday. The Nasdaq composite tumbled 74 points to 2,146.15, while the Dow Jones industrial average lost 80 points to finish at 10,796.58.

U.S. unemployment applications jumped unexpectedly last week, according to figures released Thursday by the Labor Department.

First-time jobless claims, which give an early reading on the resilience of the labor market, rose by 9,000 to 421,000 in the week ended April 28 from a revised 412,000 in the prior week, the department said. Private economists surveyed by Reuters had expected claims to drop to 400,000. Full story. --Larry Barrett, ZDII

Topics: Tech Industry

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