Dow Plummets Below 12K

Unemployment claims, oil prices lead to drop
By Evann Gastaldo,  Newser Staff
Posted Jun 23, 2011 10:26 AM CDT

(Newser) – The number of unemployment claims jumped to 429,000 last week, an unexpected rise that led the Dow Jones industrial average to fall below 12,000. Falling oil prices—they decreased 5% today—also drove US stocks lower, the AP reports. The Dow was down recently more than 215 points, while the Standard & Poor's 500 index was down 21 points and the Nasdaq had dropped 29 points. The rise in unemployment claims is the largest in four weeks. (Read more unemployment stories.)

We use cookies. By Clicking "OK" or any content on this site, you agree to allow cookies to be placed. Read more in our privacy policy.
Get the news faster.
Tap to install our app.