US jobless claims data fuels rate-hike angst, Wall Street slides

The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, offering more evidence of the economy’s resilience despite tighter monetary policy.

Initial claims for state unemployment benefits slipped 1,000 to a seasonally adjusted 194,000 for the week ended Feb 11, the Labor Department. Main stock indexes fell more than 1 per cent.

Claims remain low despite high-profile layoffs in the technology sector and other industries highly sensitive to interest rates. 

The claims report also showed the number of people receiving benefits after an initial week of aid, increased 16,000 to 1.696 million during