What to watch today: Dow set to open lower after its worst day since 2020 on inflation worries

What to watch today: Dow set to open lower after its worst day since 2020 on inflation worries

BY THE NUMBERS fell sharply Thursday after the posted its . It plunged 1,164 points, or nearly 3.6%, and sank deeper into a correction, well below the threshold for a decline of 10% or more from prior highs. The and the both plummeted more than 4% on Wednesday, with the latter closing on the brink of joining the former in bear market territory, defined as a decline of 20% or more from previous highs. (CNBC) As investors fled stocks, they sought the , pushing the price on the 10-year Treasury higher and its yield lower Thursday. Bond prices and yields move inversely. The benchmark dipped under 3% after topping that level again a day earlier. (CNBC) Weekly rose to 218,000, a bigger-than-expected increase. After hitting more than 50-year lows earlier this spring, first-time filings for unemployment benefits have gradually been creeping higher. The Philadelphia Fed's manufacturing index for May showed much lower-than-expected growth, hitting its lowest level in two years. The national average for a gallon of gasoline hit a new high of nearly $4.59, . Every state is over $4 per gallon, with California topping $6. Yardeni Research projects households are spending the equivalent of , a 78% increase