Dow Tumbles 1%; US Initial Jobless Claims Decline

Author: Avi Kapoor | March 06, 2025 11:17am

U.S. stocks traded lower this morning, with the Dow Jones index falling more than 1% on Thursday.

Following the market opening Thursday, the Dow traded down 1.08% to 42,543.11 while the NASDAQ dipped 1.52% to 18,270.27. The S&P 500 also fell, dropping, 1.34% to 5,764.33.

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Leading and Lagging Sectors

Consumer staples shares fell by just 0.6% on Thursday.

In trading on Thursday, real estate shares dipped by 2.5%.

Top Headline

Initial jobless claims declined by 21,000 from the previous week to 221,000 during the last week of February, compared to market estimates of 235,000.

Equities Trading UP

AGM Group Holdings Inc. (NASDAQ:AGMH) shares shot up 154% to $0.2601 after the company completed a $5.4 million public offering to expand bitcoin mining operations.
Shares of Visionary Holdings Inc. (NASDAQ:GV)got a boost, surging 60% to $5.93. Visionary Holdings recently reached a financing consent letter worth $1 billion from Alfardan Group of Qatar to fund product R&D and the development of PEGASUS new energy vehicles.
Scienture Holdings, Inc. (NASDAQ:SCNX) shares were also up, gaining 49% to $3.29 after the company partnered with Kindeva to launch the 10mg REZENOPY nasal spray for opioid overdose treatment.

Equities Trading DOWN

Aclarion, Inc. (NASDAQ:ACON) shares dropped 84% to $1.1050.
Shares of Pinstripes Holdings Inc. (NYSE:PNST) were down 16% to $0.1540 as the NYSE announced plans to begin delisting proceedings against Pinstripes Holdings.
PMGC Holdings Inc. (NASDAQ:ELAB) was down, falling 37% to $0.7759 after the company announced a 1-for-7 reverse stock split to maintain Nasdaq listing.

Commodities

In commodity news, oil traded up 0.8% to $66.84 while gold traded up 0.1% at $2,929.50.

Silver traded up 0.7% to $33.350 on Thursday, while copper rose 0.5% to $4.8200.

Euro zone

European shares were mostly lower today. The eurozone's STOXX 600 fell 0.4%, Germany's DAX 40 gained 0.7% and France's CAC 40 slipped 0.1%. Spain's IBEX 35 Index fell 0.1%, while London's FTSE 100 fell 1%.

Asia Pacific Markets

Asian markets closed higher on Thursday, with Japan's Nikkei gaining 0.77%, China's Shanghai Composite Index gaining 1.17% and Hong Kong's Hang Seng Index surging 3.29%.

Economics

U.S. exports of goods and services rose by $3.3 billion from the previous month to $269.8 billion in January.
Imports of goods and services rose by 10% to a record high of $401.2 billion in January.
The US reported a record trade deficit of $131.4 billion in January compared to a revised $98.1 billion gap in the previous month.
Unit labor costs in the nonfarm business sector rose 2.2% in the fourth quarter compared to preliminary expectations of 3%.
Initial jobless claims declined by 21,000 from the previous week to 221,000 during the last week of February, compared to market estimates of 235,000.

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