NEW YORK, D.C., Feb. 7 (UPI) -- U.S. markets dropped early Thursday following declines in Asia and Europe and a report that showed U.S. unemployment benefit claims higher than expected.
The Labor Department said initial filings for unemployment benefits dropped by 5,000 to 366,000. But that was less than half the decline economists had predicted.
In midmorning trading, the Dow Jones industrial average lost 122.95 points or 0.88 percent to 13,863.57. The Nasdaq composite index lost 28.38 points or 0.9 percent to 3,140.10. The Standard & Poor's 500 shed 11.63 points or 0.77 percent to 1,500.49.
The 10-year treasury note rose 6/32 to yield 1.944 percent.
Against the dollar, the euro fell to $1.3384 from Wednesday's $1.3523. The dollar fell to 93.20 yen from 93.64 yen.
In Tokyo, the Nikkei 225 index dropped 106.68 points, 0.93 percent, to 11,357.07.
