Stocks Halt Four-Day Run With Economy Worries Back: Markets Wrap
- Dollar trades near lowest level since March; Crude oil falls
- Nasdaq 100 turns lower for week, wiping out Monday’s rally
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U.S. stocks tumbled to the lowest in a week after an unexpected rise in jobless claims rekindled concern the economic recovery has stalled. The dollar weakened and Treasuries rose.
The S&P 500 Index slipped from a four-month high, led by losses in technology firms and companies that make non-essential consumer goods. The Nasdaq 100 Index dropped to a two-week low and turned lower for the week, erasing Monday’s rally that was the biggest since April. Twitter Inc. jumped after daily-user growth surged, but Alphabet Inc., Amazon.com Inc and Apple Inc. each lost more than 3%. . Microsoft Corp. slumped after cloud growth slowed. Tesla Inc. slid even after results beat estimates.