U.S. equity markets slid Thursday after a spike in temporary jobless claims snapped a 15-week streak of declines.

U.S. equity markets slid Thursday after a spike in temporary jobless claims snapped a 15-week streak of declines while investors awaited a GOP proposal for coronavirus relief and digested a slew of earnings reports. The Dow Jones Industrial Average fell 59 points, or 0.23 percent, in the opening minutes of trading while the S&P 500 and the Nasdaq Composite dropped 0.14 percent and 0.22 percent, respectively. Initial jobless claims for the week ended July 18 rose by 1.416 million, raising the total number of first-time filings to more than 52 million since COVID-19 stay-at-home orders were issued in mid-March. Continuing claims, meanwhile, fell by 1.1 million to 16.197 million. In Washington, Republican lawmakers prepared to unveil a $1 trillion proposal for coronavirus relief after negotiations with the White House, which dropped a proposal for a payroll tax cut.

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