U.S. equity markets slid Thursday as investors scrutinized both cautious comments from the Federal Reserve and a spike in the number of first-time jobless filings, which jumped back above 1 million.

The Dow Jones Industrial Average fell 89 points, or 0.32%, while the S&P 500 dropped 0.22%. The Nasdaq Composite reversed earlier losses to climb 0.18%

The early weakness comes after the minutes from the Federal Reserve’s July meeting showed central bank policymakers are worried the absence of government aid could stall the economy’s comeback. The minutes sparked a late-day selloff on Wednesday that wiped out the major averages' gains.

Looking at economic data, initial unemployment claims for the week ended Aug. 15 ticked up to 1.106 million from a revised 971,000. Continuing claims, meanwhile, fell to 14.844 million from 15.48 million. Wall Street analysts surveyed by Refinitiv were expecting a total of 925,000 initial claims and 15 million continuing claims.

More in category

House approves spending bill in effort to avoid government shutdown
September 22, 2020FOX Business
House approves spending bill in effort to avoid government shutdown
Stock futures trade higher adding to gains
September 23, 2020FOX Business
Stock futures trade higher adding to gains
A little help from our friends: banks team up as FX trading gets tougher
September 22, 2020Reuters
A little help from our friends: banks team up as FX trading gets tougher
Asian stocks struggle as investors focus on U.S. dollar
September 22, 2020Reuters
Asian stocks struggle as investors focus on U.S. dollar
Sen. John McCain’s widow Cindy endorses Democrat Joe Biden for president
September 22, 2020MarketWatch
Sen. John McCain’s widow Cindy endorses Democrat Joe Biden for president
House passes bipartisan stopgap funding bill to avert government shutdown at month’s end
September 22, 2020MarketWatch
House passes bipartisan stopgap funding bill to avert government shutdown at month’s end
At Tesla shareholder meeting, honking greets Musk's profit promise
September 22, 2020MarketWatch
At Tesla shareholder meeting, honking greets Musk's profit promise
Dow recovers from intraday drop as S&P 500, Nasdaq snap four-day losing streak
September 22, 2020MarketWatch
Dow recovers from intraday drop as S&P 500, Nasdaq snap four-day losing streak
Opinion: These cheap stocks could see huge gains during a vaccine-driven economic rebound
September 22, 2020MarketWatch
Opinion: These cheap stocks could see huge gains during a vaccine-driven economic rebound
Manhattan district attorney points to ‘mountainous record’ of alleged misdeeds in justifying request for Trump tax records
September 21, 2020MarketWatch
Manhattan district attorney points to ‘mountainous record’ of alleged misdeeds in justifying request for Trump tax records
The market may have peaked so ‘head for the multiasset hills’ and buy these stocks, says fund manager
September 22, 2020MarketWatch
The market may have peaked so ‘head for the multiasset hills’ and buy these stocks, says fund manager
KKR to invest $755 million in retail arm of India's Reliance
September 22, 2020Reuters
KKR to invest $755 million in retail arm of India's Reliance
Jamie Dimon says he's OK with higher taxes on the rich, but wealth tax is 'almost impossible'
September 22, 2020CNBC
Jamie Dimon says he's OK with higher taxes on the rich, but wealth tax is 'almost impossible'
Sony slides 2% as Microsoft flashes cash to boost games lineup
September 22, 2020Reuters
Sony slides 2% as Microsoft flashes cash to boost games lineup
Asian stocks struggle to build on Wall Street gains, dollar rises
September 22, 2020Reuters
Asian stocks struggle to build on Wall Street gains, dollar rises
India's Reliance says KKR to invest $755.1 million in retail arm
September 22, 2020Reuters
India's Reliance says KKR to invest $755.1 million in retail arm
Opinion: The COVID-19 lockdown is squeezing real estate from all sides and threatens to burst the housing and mortgage bubble
September 21, 2020MarketWatch
Opinion: The COVID-19 lockdown is squeezing real estate from all sides and threatens to burst the housing and mortgage bubble
Trading app Robinhood raises $660 million in latest funding round
September 22, 2020FOX Business
Trading app Robinhood raises $660 million in latest funding round
DOD accused of using COVID funds for jet engine parts, body armor, dress uniforms
September 22, 2020FOX Business
DOD accused of using COVID funds for jet engine parts, body armor, dress uniforms
Nike stock rallies after big earnings beat
September 22, 2020MarketWatch
Nike stock rallies after big earnings beat
Marriage linked to higher wages for some workers
September 22, 2020FOX Business
Marriage linked to higher wages for some workers