(Reuters) – The New York Stock Exchange opened in the red on Thursday after a surprise drop in weekly jobless claims in the United States, showing the health of the job market and heightening concerns about inflation and interest rates.

In early trading, the Dow Jones index lost 58.06 points, or 0.17%, to 34,385.13 points and the broader Standard & Poor’s 500 fell 0.71% to 4,433.70 points.

The Nasdaq Composite lost 1.39%, or 192.66 points, to 13,679.81 points, weighed down in particular by Apple.

A U.S. Labor Department report released Thursday before markets open shows the weekly number of jobless claims hit its lowest level since February, unexpectedly falling to 216,000 from 229,000 the previous week, while that economists on average expected a rise to 234,000.

Along with the US ISM services index, which had shown higher input prices on Wednesday, the new data reinforces fears that inflationary pressures will force the Federal Reserve to hold rates high longer than expected.

However, a large majority of traders are betting on a pause in the monetary tightening campaign at the US central bank’s monetary policy meeting on September 19 and 20.

Fears about China are also still relevant: exports and imports of the Asian giant, the world’s second largest economy, fell in August, under the impact of weak external demand and weak consumer spending. .

Investors are also awaiting comments from at least six Fed officials, who are due to speak later in the day.

In stocks, Apple lost 4.25% after reports that China will expand the iPhone ban to companies and state agencies.

Large-cap stocks Tesla and Nvidia are down 2% and 2.8% respectively at the open amid bond yield tensions following data showing lingering inflationary pressures.

(Written by Diana Mandiá, edited by Blandine Hénault)

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