US stocks slide as tech selloff and weak retail earnings offset the lowest jobless-claims reading in 50 years

US stocks slide as tech selloff and weak retail earnings offset the lowest jobless-claims reading in 50 years

US stocks fell Wednesday as investors headed into the Thanksgiving holiday showing concern about inflation and financial results from retailers. All three of Wall Street's benchmarks moved lower, led by the tech-heavy Nasdaq Composite. Nordstrom and Gap shares each fell sharply after missing third-quarter earnings expectations, with both companies pointing to supply-chain issues. Stocks remained in the red even after Labor Department data showed of 199,000 hit the lowest level since 1969. Bond yields continued to move higher, reflecting worries about a sustained inflationary environment. Investors will try to gain more insight into the Federal Reserve's thinking on inflation and economic growth with the release later Wednesday of minutes from its most recent policy meeting. Around the markets, fell 0.5% to $1,782 per ounce. The 10-year yield rose to 1.683%. Oil prices fell, with down 0.3% at $78.38 per barrel. fell by 2.6% to $56,151.