JaysonPhotography/iStock/Thinkstock(NEW YORK) — The Dow Jones Industrial Average’s drive towards 20,000 has slowed as the markets saw their second straight day of losses.
The Dow dropped 23.08, finishing the day at 19,918.88.
The Nasdaq slid to a close of 5,447.42, 24.01 lower than it opened, and the S&P 500 lost 4.22, ending the trading session at 2,260.96.
More people filed for unemployment benefits last week. The Labor Department reported 275,000 Americans who filed for benefits, compared to 254,000 the previous week. The Department did say, however, that the figure is in line with steady hiring.
The U.S. economy grew at a 3.5 percent annual rate in the third quarter. That’s the fastest pace in two years. The rate of growth is expected to slow towards the end of 2016, however, with less consumer spending.
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