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Dow Jones back below 26,000 after jobless claims data

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On Thursday the Dow Jones Industrial Average sank 1.4, closing below 26,000 points after weekly jobless claims data was released. The number of Americans who filed initial claims for unemployment benefits fell 99,000 to 1.31 million for the week ended July 4. That was the 14th weekly decline in a row, and the figure was lower than anticipated. However, a further one million people filed for Pandemic Unemployment Assistance, a federal programme for selfemployed workers, and around a fifth of the US workforce is now receiving some type of unemployment benefit. The gravity of that situation, and the first signs that the death rate is going to pick up along with the surge in coronavirus cases in many states, tempered investor sentiment.