Investing.com - U.S. stocks were lower on Thursday, as sustained concerns over the euro zone's worsening debt crisis weighed on market sentiment despite upbeat U.S. data on employment and housing.
During early U.S. trade, the Dow Jones Industrial Average slipped 0.44%, the S&P 500 index fell 0.66%, while the Nasdaq Composite index declined 0.89%.
Spanish 10-year bond yields surged to a euro-era high of 6.97% earlier, close to the 7% threshold widely seen as unsustainable in the long term.
Meanwhile, French 10-year bond yields also climbed to their highest level since the inception of the single currency, adding to fears over sovereign debt contagion to core euro zone economies.
In the U.S., government data showed that building permits rose more-than-expected in October, climbing to the highest level since March 2010. The report also showed that U.S. housing starts were largely unchanged in October.
A separate report revealed that the number of people who filed for unemployment assistance in the U.S. in the week ending November 11 fell by 5,000 to a seven-month low of 388,000.
Sears Holdings saw shares tumble 8.74% after the department store posted a quarterly loss that nearly doubled amid weak demand for gadgets.
Meanwhile, Applied Materials dropped 2.89% as the chip gear maker gave a cautious revenue outlook late Wednesday and warned it expects to be affected by a tough economy.
In the software sector, Google slipped 0.53% after launching its online music store in partnership with three major record companies in a move to compete with Apple’s iTunes store. Apple shares were down 0.67%.
Elsewhere, financial stocks were mixed as shares in JP Morgan slumped 1.30% and Citigroup declined 0.86%, while Bank of America saw shares rise 0.51%.
On the upside, Dollar Tree edged up 0.43% after the discount store chain reported a better-than-expected profit thanks to Halloween sales.
Boeing also added to gains, with shares rising 0.35% as the company received its largest commercial airplane order ever after Indonesia's Lion Air ordered a total of 230 airplanes with a list price of USD21.7 billion.
Other stocks in focus included clothing retailer Gap and chipmaker Marvell Tech, slated to post earnings after the closing bell.
Across the Atlantic, European stock markets were sharply lower. The EURO STOXX 50 declined 0.88%, France’s CAC 40 plummeted 1.28%, Germany's DAX dropped 1.16%, while Britain's FTSE 100 tumbled 1.81%.
During the Asian trading session, Hong Kong's Hang Seng Index slumped 1%, while Japan’s Nikkei 225 Index added 0.19%.
Later in the day, the U.S. was to release a report on manufacturing activity in the Philadelphia region.
During early U.S. trade, the Dow Jones Industrial Average slipped 0.44%, the S&P 500 index fell 0.66%, while the Nasdaq Composite index declined 0.89%.
Spanish 10-year bond yields surged to a euro-era high of 6.97% earlier, close to the 7% threshold widely seen as unsustainable in the long term.
Meanwhile, French 10-year bond yields also climbed to their highest level since the inception of the single currency, adding to fears over sovereign debt contagion to core euro zone economies.
In the U.S., government data showed that building permits rose more-than-expected in October, climbing to the highest level since March 2010. The report also showed that U.S. housing starts were largely unchanged in October.
A separate report revealed that the number of people who filed for unemployment assistance in the U.S. in the week ending November 11 fell by 5,000 to a seven-month low of 388,000.
Sears Holdings saw shares tumble 8.74% after the department store posted a quarterly loss that nearly doubled amid weak demand for gadgets.
Meanwhile, Applied Materials dropped 2.89% as the chip gear maker gave a cautious revenue outlook late Wednesday and warned it expects to be affected by a tough economy.
In the software sector, Google slipped 0.53% after launching its online music store in partnership with three major record companies in a move to compete with Apple’s iTunes store. Apple shares were down 0.67%.
Elsewhere, financial stocks were mixed as shares in JP Morgan slumped 1.30% and Citigroup declined 0.86%, while Bank of America saw shares rise 0.51%.
On the upside, Dollar Tree edged up 0.43% after the discount store chain reported a better-than-expected profit thanks to Halloween sales.
Boeing also added to gains, with shares rising 0.35% as the company received its largest commercial airplane order ever after Indonesia's Lion Air ordered a total of 230 airplanes with a list price of USD21.7 billion.
Other stocks in focus included clothing retailer Gap and chipmaker Marvell Tech, slated to post earnings after the closing bell.
Across the Atlantic, European stock markets were sharply lower. The EURO STOXX 50 declined 0.88%, France’s CAC 40 plummeted 1.28%, Germany's DAX dropped 1.16%, while Britain's FTSE 100 tumbled 1.81%.
During the Asian trading session, Hong Kong's Hang Seng Index slumped 1%, while Japan’s Nikkei 225 Index added 0.19%.
Later in the day, the U.S. was to release a report on manufacturing activity in the Philadelphia region.