U.S. stock markets slipped sharply on Thursday. By the New York close, the Dow was at 49,452, down 1.3 % from the previous trading day. The Nasdaq 100 fell 2.0 % to 24,688, while the S&P 500 finished at 6,833, a 1.6 % decline.
U.S. jobless‑claim data, released on Thursday, showed 227,000 first filings-slightly above the 222,000 expected. Andreas Lipkow, chief market analyst at CMC Markets, said the downward trend in the labor market continues. “There isn’t yet room for rate‑cut fantasies” Lipkow added. “Only if additional economic slowdown signs appear in the U.S. will that issue become urgent again”. In terms of U.S. housing sales, there is now a little more room; sales in January were actually a touch weaker than economists had forecast, Lipkow noted.
The euro weakened over the night. One euro was worth $1.1870, which means one U.S. dollar could be purchased for €0.8425.
Gold fell markedly, trading at $4,918 per troy ounce in the evening-down 3.3 %. That equates to €133.21 per gram.
Brent crude also slid, with a barrel priced at $67.60 at 22:00 German time-$1.80, or 2.6 %, lower than the prior day’s close.