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7/8, 10:01 PM (Source: TeleTrader)
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Wall Street closes in red amid COVID-19 concerns

United States equity markets extended losses on Thursday to close the trading session in the red zone. Most concerns revolved around rising COVID-19 cases globally and the threat of the Delta variant. The Olympics leadership announced that Summer Olympics in Tokyo will be held without spectators following Japan's declaration of the fourth state of emergency.

Meanwhile, US jobless claims rose by 2,000 to 373,000 coming higher than expected and signaling a possible slowdown in the labor market. The yield on the 10-year Treasury note dropped to 1.256%, the lowest point since February.

The Dow lost 0.75% as the Travelers Companies slid 2.41%, while the S&P 500 closed with 0.86% below the flatline with Kansas City Southern plunging 7.87%. The Nasdaq 100 dropped 0.60% led by CSX Corporation falling 6.16%. The euro gained 0.47% against the dollar to trade for $1.18465 at 4:02 pm ET.

Baha Breaking the News (BBN) / LH