Source: CCTV.com

05-08-2009 11:34

US stocks slid on Thursday as investors took profits from the technology sector's recent surge. Bank stocks also succumbed to profit-taking.

But for the first time, unemployment claims dropped to levels not seen since January, the fourth weekly fall in five weeks. Economists say the data suggest the labor market is stabilizing, but still remains very weak. On Wall Street, a major sell-off in the bond market spooked investors.

US stocks slid on Thursday as investors took profits from  the technology sector's recent surge. Bank stocks also  succumbed to profit-taking.

A tepid sale of 30-year bonds set-off fears foreign investors may be losing their appetite. And that added to a down day for the stock market. The Nasdaq suffered the most, nearly two-and-a-half percent, while the Dow Jones industrial average dropped just over one percent.

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Editor:Qin Yongjing