Wall Street’s weakness at the end of Wednesday’s session extended into Thursday as investors continued to digest the Federal Reserve’s dour commentary. More discouraging economic data delivered fresh on Thursday morning didn’t help.

The Labor Department said initial unemployment claims for last week came in at 860,000 – a lower total than most estimates but a still-sluggish number that prompted Allianz chief economic advisor Mohamed El-Erian to call the recovery pace “below what’s both needed and possible.” Backing that up was a Philadelphia-region manufacturing reading that dropped from 17.2 in August to 15.0 in September, indicating slower expansion.

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