Stock markets fall as growth fears rise and US jobless claims jump – business live

Rolling coverage of the latest economic and financial newsLatest: European markets hit three-month lowONS: 12% of UK workers on furloughRyanair’s O’Leary warns of job cuts riskIntroduction: Growth fears aboundComing up: Rishi Sunak’s winter crisis jobs plan 2.47pm BST The New York stock market has opened lower, amid gloom over the rise in new jobless claims last week.Sentiment appears very weak with the downside bias in favour. With economic indicators failing to deliver lift-off and stimulus apparently off the table before the election, there needs to be a positive catalyst to get the bulls back in the game.Otherwise with election risks and a worsening outlook for the recovery, we need to consider further losses as we approach the election. 2.13pm BST In a worrying development, the number of Americans filing new claims for unemployment benefits unexpectedly increased last week.The initial claims total has jumped to 870,000 for last week, up from 866,000 a week earlier. Economists had expected it would fall, to around 840,000United States Initial Jobless Claims came in at 870K, above forecasts (843K) in September 18 For more details message us or visit https://t.co/LpOreSfepoHonorFx – ✅Your Trusted Broker✅ pic.twitter.com/ksuROWQoEEI think the trend in initial and continuing claims is consistent with a hockey-stick recovery.It will take many more months for employment to go back to pre-Covid levels, but it still looks like a recovery. pic.twitter.com/EAsltjJJ2xInitial #unemployment claims +4k to 870k (SA) & +29k to 825k (NSA) in w-e Sep19> PUA claims (NSA): 630k (-45k)> Total UI+PUA: still very high 1.5mn (NSA) new claimants!>> The climb is long & plateaus are unavoidable, but this plateau is worrisome pic.twitter.com/eXE9inDvVqinitial UI claims for regular. state programs wk ending 9/19: actual: 825 k seasonally adj: 870 k 4-wk avg (SA): 878 k year ago 4-wk avg: 213 kPUA 630 kinsured unempl wk ending 9/12: act.: 12.264 m S.A.: 12.580 m yr ago 4wk avg 1.7 m https://t.co/FP2BMEXidd 1/2 pic.twitter.com/sSsVV09GbY Continue reading…
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