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Futures pare losses after weekly unemployment report

FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 20, 2020. REUTERS/Lucas Jackson

(Reuters) – U.S. stock index futures pared losses sharply on Thursday despite the Labor Department’s data showing weekly unemployment claims soared to 3.3 million last week from 282,000 a week earlier.

At 8:31 a.m. ET, Dow e-minis 1YMcv1 were down 238 points, or 1.13%. S&P 500 e-minis EScv1 were down 35.75 points, or 1.45% and Nasdaq 100 e-minis NQcv1 were down 79.75 points, or 1.07%.

Moment before the data, Dow e-minis 1YMcv1 were down 468 points, or 2.23%. S&P 500 e-minis EScv1 were down 59 points, or 2.39% and Nasdaq 100 e-minis NQcv1 were down 145.25 points, or 1.95%.

Reporting by Medha Singh in Bengaluru; Editing by Arun Koyyur

http://feeds.reuters.com/~r/reuters/businessNews/~3/SoJ6wJDs-vE/futures-pare-losses-after-weekly-unemployment-report-idUSKBN21D17Z

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