The market fell amid a shocking rise in weekly unemployment claims.
Oil attempted to make a comeback on Thursday, rising 8% to around $22 per barrel. Energy companies were especially hard hit in the first quarter amid an ongoing oil price war, making up seven out of ten of the S&P 500’s worst-performing stocks during that period.The Dow and S&P 500 closed out their worst first-quarter performances in history on Tuesday.
“It is unfortunate how bad these numbers are getting, and no one will be surprised if we see a few more terrible readings over the next few weeks.”“The recent stock market decline and continued volatility has accurately reflected the extreme level of jobless claims we’re seeing in the economy,” says Andrew Smith, chief investment officer for Delos Capital Advisors.
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