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Newspaper
The Gazette
Location
Medina, Ohio, United States of America
Date
Mar 19, 2021
Page
9
Stocks retreat on rising bond yields with tech shares and energy names dragging markets. The S&P 500 drops 1.5 percent, Nasdaq off 3 percent, Dow slips while financials edge higher as oil prices slide. Major names like Apple Microsoft and Tesla fall.
The Labor Department said U.S. jobless claims climbed to 770,000 last week up from 725,000 the prior week. The figures show ongoing layoffs in some sectors despite broad economic improvement and strong job gains in February.
Ohio files a federal lawsuit challenging the Tax Mandate in the $1.9 trillion relief law that would tie funds to tax policy, arguing it coerces state sovereignty. The suit seeks to block the provision and notes 2020 tax revenue shortfalls and rising demand for aid.
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