(MarketWatch) -- U.S. stocks crumpled Thursday as disheartening data on the jobs market and regional manufacturing furthered doubts about the recovery, circumventing enthusiasm that came with Intel Corp.'s $7.7 billion deal to acquire McAfee Inc. The Dow Jones Industrial Average /quotes/comstock/10w!i:dji/delayed (DJIA 10,271, -144.33, -1.39%) closed down 144.33 points, or 1.4%, to end at 10,271.21, with all 30 components in the red for the day. The blue-chip average's loss broke two straight days of gains.
The hit to Wall Street came after a government report showed weekly jobless claims rising to a nine-month high. Read about unexpected rise in filings.
In addition, manufacturing in the Philadelphia region contracted and the Conference Board said its index of leading economic indicators climbed just 0.1% in July, with the lackluster rise pointing to slowing growth. See details of industrial core of the economy moving to a slower pace.
"As we worked our way over the past couple of months, the one thing we could hang our hat on was that at least manufacturing is working and hopefully the non-manufacturing sector will kick in," Art Hogan, chief market strategist at Jefferies & Company, said of the disappointing reports. (more)
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