New York CNN —
Stocks took a nosedive Thursday after fresh data stoked fears that the US economy is weakening as interest rates stay at a 23-year high.
The Dow slid by 716 points, or 1.7%, on track for its worst day this year. The S&P 500 lost 1.9% and the Nasdaq Composite fell 2.9%.
US Treasury yields fell. The 10-year yield fell below 4%, reaching 3.97% by midday Thursday.
New economic data revealed that first-time applications for jobless benefits rose last week to an estimated 249,000 filings. That’s the highest tally since last
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