The stock market flashes red Thursday as warning signs show in other areas of the economy. Weekly jobless claims are now at an 11-month high. Thursday’s labor market report also shows that the total number of people on jobless rolls is at the highest since 2021.
Manufacturing data suggests a slowdown in the broader U.S. economy. The manufacturing sector contracted in July for the fourth consecutive month, according to ISM data. It’s now at its lowest level in eight months.
