U.S. government debt prices were higher Thursday morning following another tech-driven sell-off on Wall Street, while concerns for the global economic recovery amid mounting coronavirus cases continued to weigh on sentiment.
Wednesday saw another plunge for risk assets, with the Dow closing more than 500 points lower as tech stocks tumbled once again, with investors also spooked by uncertainty around the resurgence in coronavirus cases and prospects of further federal stimulus measures.
U.S. business activity slowed in September, a survey showed Wednesday, with manufacturing gains offset by a reversal in the services sector as the recovery appears to be losing momentum at the end of the third quarter. Thursday's focus will shift to the latest jobless claims report from the Labor Department, due at 8:30 a.m. ET, with economists polled by Reuters expecting new unemployment filings last week to come in at 840,000, down from 860,000 the previous week. Continuing claims are also expected to fall.
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