US markets slide on unexpected rise in Unemployment claim
Let’s explore the reason for slid in Stocks on US markets.
All three US indices tumbled on the back high weekly unemployment claim for the first time in since March 2020.
US corona cases crossed 4 million marks which constitute 1/4th of total cases.
US investors are hopeful of Stimulus package announcement lifted stocks.
Rising US & China tension after US government ordered to close China’s consulate in Houston on back of protection of American intellectual property and American private information.
Asian markets are trading mix this morning. (7:30 A.M)
SGX Nifty is in red note this morning. (7:30 A.M.)
Why US markets slide on Thursday?
US stocks tumbled on heavy volume on the rise of weekly claim of 1.42 million compared to 1.3 million claim earlier. This lead to sharp fall in all the indices in US markets and stock took a deep dive on the this news.
In US, corona cases surged to 4 million mark and constitute 1/4th of cases around the world is another negative for US stocks. Also there is surge in deaths resulted in dampening of investors sentiments.
Investors are hopeful that US government will follow a similar move like European Union economical package of 750 billion Euro to support their economy.
After year of stability between US- China the relationship again took back seat, as US government planned to close the China’s consulate in Houston on back of protection of American intellectual property and American private information.