US equities declined on Thursday and thus ended up to last Friday levels, losing recent gains. The tech sector was a drag again, as it slumped for a second straight session. Meanwhile, the US reported that weekly jobless claims dropped less than expected while the housing market is slowing down. The S&P 500 fell 0.84%, and the Dow dropped by 0.47%. Tech-oriented Nasdaq was the worst performer again, losing 1.27%. Downbeat data suggests that the US economic recovery is not getting traction. The Labor Department said that initial applications for unemployment benefits dropped to 860,000 in the week ending last Saturday, down from 893,000 in the previous week. However, economists anticipated a decline to 850,000. At the end of August, there were over 30 million US citizens on unemployment benefits, reflecting the disastrous impact of the coronavirus pandemic. Meanwhile, the Commerce Department said that housing starts fell more than expected, by 76,000 units to 1.416 million. Building
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