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Another 1.88 million Americans filed for unemployment benefits over the last week (compared to Dow Jones estimate of 1.78 million).
42.6 million citizens have now filed for unemployment since the start of the pandemic 11 weeks ago.
More concerning, however, were the 21.5 million people who filed continuing claims. That's a gain of 649,000 over the past week, which is also worse than Wall Street expected.
These statistics definitely weighed on investors sentiment, who have been confident that the economy will be able to successfully reopen over the summer.