US equity futures are trading lower, indicating that the previous session’s selling will continue.
Major futures indices suggest a drop of 0.4% when Thursday’s trading session begins on Wall Street.
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A few economic reports likely to move the market are underway.
The Labor Ministry is expected to say the number of jobless claims fell to 840,000 last week, down 20,000 from the previous week’s total of 860,000 and the lowest reading since March 14, just before the coronavirus lockouts.
The Census Bureau is expected to say new home sales slipped 0.1% in August from July to a seasonally adjusted annual rate of 895,000. That’s barely down from the much stronger reading than forecast for July of 901,000, the highest since December 2006.
Market participants feel less optimistic about the action of the US Federal Reserve and Congress to help the US economy amid the distractions of the presidential election and the battle for the Supreme Court seat left vacant by the death of Judge Ruth Bader Ginsburg.
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In Asia, the Japanese benchmark Nikkei 225 fell 1.1%, the Hong Kong Hang Seng fell 1.8% and the Shanghai Composite of China fell 1.7%.
In Europe, London’s FTSE fell 1%, Germany’s DAX fell 0.7%, and France’s CAC fell 0.9%.
Wall Street saw more of a boost on Wednesday as stocks closed broadly lower, erasing yesterday’s gains. The S&P 500 fell 2.4% to 3,236.92, erasing an earlier gain. Widespread sales accelerated in the afternoon, although tech stocks were the biggest losses.
|I: DJI||MEDIUM DOW JONES||26763.13||-525.05||-1.92%|
|I: COMP||NASDAQ COMPOSITE INDEX||10632.985307||-330.65||-3.02%|
The Dow Jones Industrial Average lost 1.9% to 26,763.13. The Nasdaq composite slipped 3% to 10,632.99.
Johnson & Johnson rose 0.2% as they began a huge final study to try to prove whether a single dose COVID-19 vaccine can protect against the coronavirus.
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In energy trading, benchmark US crude fell 36 cents to $ 39.57 a barrel in electronic trading on the New York Mercantile Exchange. Brent, the international standard, lost 35 cents to $ 41.42 a barrel.
The Associated Press contributed to this story.