(Source: United Press International)U.S. markets turned lower Thursday morning after the Labor Department said first-time unemployment claims rose by 8,000 in the week ending Jan. 30.
Stock markets fell earlier in China, Japan, Hong Kong and India and were following suit in France, Germany and Britain, spurring more fears that markets that fell in January may be headed toward a 10 percent correction.
In midmorning trading in New York, the Dow Jones industrial average lost 115.25 points or 1.12 percent to 10,155.30. The Standard & Poor's 500 lost 16.72 or 1.52 percent to 1,080.56. The Nasdaq composite index lost 29.46 or 1.34 percent to 2,161.45.
The benchmark 10-year Treasury rose 18/32 to yield 3.63 percent.
The euro fell to $1.3807 from Wednesday's $1.3899. Against the yen, the dollar fell to 90.51 yen from Wednesday's 90.98 yen.
In Tokyo, the Nikkie 225 index lost 0.46 percent, 48.35, to 10,355.98.
