Stocks fell at the open on Thursday after an unexpected rise in new claims for unemployment insurance added to concerns about a slowing economic recovery.
A bleak outlook from Dow component Cisco Systems Inc
The Dow Jones industrial average <.DJI> was down 77.50 points, or 0.75 percent, at 10,301.33. The Standard & Poor's 500 Index <.SPX> fell 10.55 points, or 0.97 percent, at 1,078.92. The Nasdaq Composite Index <.IXIC> lost 35.29 points, or 1.60 percent, at 2,173.34.
The S&P 500 fell below its 50-day moving average of 1,088 and also a recent low, marked as key technical support. The next support level is near 1,060.
(Editing by Jeffrey Benkoe)