{"id":427786,"date":"2020-06-18T16:00:28","date_gmt":"2020-06-18T16:00:28","guid":{"rendered":"https:\/\/ktsl888.com\/?p=427786"},"modified":"2024-06-11T14:04:05","modified_gmt":"2024-06-11T14:04:05","slug":"worse-jobless-claims-dow-bitcoin","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/worse-jobless-claims-dow-bitcoin\/","title":{"rendered":"Jobless Claims Worse Than Expected: Dow Slides Pre-Market, How Will Bitcoin Respond?"},"content":{"rendered":"

Jobless claims in the United States performing worse than initial forecasts expected has caused the Dow and other stock indices to slide pre-market. With Bitcoin<\/a>‘s uptrend hanging by a thread, how will the first-ever cryptocurrency respond to the negative news and falling equities market?<\/p>\n

Jobless Claims Worst Than Forecasted Sends Dow Plunging Pre-Market<\/h2>\n

When the pandemic first began, there was a record-breaking surge in jobless claims across the United States and much of the globe.<\/p>\n

Between financially motivated layoffs, small businesses shutting their doors, and larger companies unable to stay in operation due to lockdown conditions, millions lost their jobs immediately.<\/p>\n

Like the outbreak itself, after an initial peak, jobless claims began to decline across the United States. The positive outlook caused a large rebound across global markets. Even Bitcoin<\/a> has benefitted from the return of risk appetite and stimulus money injection.<\/p>\n

Related Reading | Bitcoin\u2019s Perfect Storm On The Horizon As Analyst Calls For \u2018Inevitable\u2019 Dollar Collapse\u00a0<\/a><\/strong><\/em><\/p>\n

But as worldwide cases begin to climb<\/a>, a second round of the pandemic looks poised to once again wreak havoc on the battered and beaten economy again.<\/p>\n

A new report on jobless claims in the US reflects the return to uncertainty, as the number has come in worse than originally forecasted.\u00a0 Dow Jones Industrial Average futures slide pre-market on the news break, but thus far Bitcoin price continues to trade sideways.<\/p>\n

If traditional markets tank harder on the heels of negative news and sentiment, how will Bitcoin respond?<\/p>\n

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US Jobless Claims worse than forecast: Initial jobless claims dropped to 1.51m, down slightly from upwardly revised 1.57m previous week vs 1.29m expected. Continuing claims, the total number of Americans claiming ongoing unemployment benefits, decreased to 20.5m vs 19.9m expected pic.twitter.com\/QIDcszE5Ln<\/a><\/p>\n

— Holger Zschaepitz (@Schuldensuehner) June 18, 2020<\/a><\/p><\/blockquote>\n