US stocks fall on rising jobless claims, dollar weakens
By DPA, IANSThursday, January 13, 2011
NEW YORK - US stocks fell slightly Thursday as the government figures showed weekly claims for jobless benefits by out-of-work Americans rose more than expected.
New jobless claims climbed to a three-month high of 445,000, according to the Labour Department.
The blue-chip Dow Jones Industrial Average fell 23.54 points, or 0.2 percent, to 11,731.9. The broader S&P 500 was down 2.2 points, or 0.17 percent, to 1,283.76. The technology-heavy Nasdaq Composite Index edged down 2.04 points, or 0.07 percent, to 2,735.29.
The dollar weakened sharply against the euro as European Central Bank chief Jean-Claude Trichet issued a warning that inflation was on the rise in the eurozone.
His comments prompted speculation that the central bank could be mulling a hike in interest rates in the near future.
The US currency slumped against the euro to 74.9 euro cents from 76.13 euro cents on Wednesday. The dollar dropped against the Japanese currency to 82.79 yen from 82.98 yen.
