Exchange Traded Funds (ETFs) dropped Thursday, with the bears in control after data showed rising jobless claims and growing U.S. and Chinese trade deficits.
- The number of people seeking unemployment benefits rose last week. But the rise comes after applications hit their lowest level in nearly three years and economists expect further declines as the economy improves. Applications increased by 26,000 to a seasonally adjusted 397,000 during the week ended March 5, DIA) is down 1.5% in morning trading.
- A surge in oil prices helped push imports up at the fastest pace in 18 years in January, giving the country the largest trade deficit in six months. ERY)rose over 9% in early trading.
- Europe's leading stock markets retreated Thursday as euro zone debt fears sparked by a credit downgrade to IEV) is down approximately 2% today.
- Asian shares declined Thursday as escalating fighting in Libya and FXI) is down this morning about 1.3%.
Gregory A. Clay contributed to this article.
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