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Dow 10337.43 -41.40, Nasdaq 2193.51 -15.12, S&P 1084.92 -4.55
Stocks continue to be under pressure due to concerns about the economy.
Recent economic reports continue to weigh on investors and today’s jobless numbers didn’t help matters after the Labor Department reported 484,000 claims, which was much higher than expected.
The tech sector is seeing the brunt of the selling with the sector down -1.6%. Much of the selling is due to Cisco System (CSCO) 21.36 -2.37 after the company beat estimates, but the CEO had negative comments about future demand and the economy. Additionally, Oppenheimer lowered the rating on the company along with several other analysts.
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