860,000 Newly Unemployed Last Week; Big Tech Stumbles | Stock Market News

All three major U.S. indices finished lower on Thursday, led by the high-flying Nasdaq, which lost almost 1.3%.

Markets have been volatile in recent weeks, and the most recent announcement from the Federal Open Market Committee on Wednesday seems to have spooked investors further. The Federal Reserve announced intentions to keep rates low through 2023 as it braced the public for what it expects will be a long and uneasy recovery in the labor market.

That reality was underscored by Thursday’s top-line economic numbers, which showed another 860,000 people filed initial jobless claims. Although down from 893,000 the week before, it’s still a harrowing figure, and higher than the 830,000 economists expected.

The Dow Jones Industrial Average lost 130 points, or nearly 0.5%, to finish at 27,901.

Not playing around. Shares of the game-focused restaurant chain Dave & Buster’s Entertainment (ticker: PLAY) took a 26% hit on Thursday as reports

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