Dow Has a Rough Day After Jobless Numbers

Index falls 353 points
By Newser Editors,  Newser Staff
Posted Jul 23, 2020 3:16 PM CDT
Dow Has a Rough Day After Jobless Numbers
This photo provided by the New York Stock Exchange shows the trading floor Wednesday, July 22, 2020.   (NYSE Photo by Colin Ziemer via AP)

A not-so-great report on unemployment led to a not-so-great day on Wall Street. The Dow fell 353 points, 1.3%, to 26,652; the S&P 500 fell 40 points, 1.2%, to 3,235; and the Nasdaq fell 244 points, 2.2%, to 10,461. The Nasdaq is tech-heavy, and those companies posted the biggest drops even with better-than-expected results from Microsoft, per the AP. “The job market is going sideways,” Jack Janasiewicz of Natixis Investment Managers tells the Wall Street Journal. Things might have been worse on Thursday, but investors expect that Congress will come through with another stimulus package soon. (More stock market stories.)

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