国际英语新闻：U.S. stocks extend losses after disappointing economic data

NEW YORK, July 1 (Xinhua) -- U.S. stocks extended its early losses on Thursday as data from job, housing and even manufacturing market failed to meet expectations.

The Labor Department said on Thursday that the number of people filing initial claims for jobless benefits increased by 13,000 to 472,000 in the week ended June 26, while economists were expecting a small decline.

The report came one day before the government monthly non-farm payrolls data, adding fears that Friday's jobless data may also fall short of estimates.

Further battering market sentiment,the number of home buyer who signed contracts to purchased homes tumbled 30 percent in May, after government tax credit expired at the end of April.

According to the National Association of Realtors, its index of pending home sales dropped to 77.6, the lowest level since 2001, from 110.9. The reading was also 15.9 percent lower compared with the same month last year.

What's more, the growth in manufacturing sector, one of the major drivers in U.S. economic rebound, showed a sign of slowdown.

Data from the Institute for Supply Management, an industry trade group, showed its manufacturing index slipped to 56.2 this month from 59.7 in May. Although the number still signals growing, it was lower than market anticipation.

The Dow Jones industrial average tumbled 91.14 points, or 0.93 percent, to 9,682.88. The Standard & Poor's 500 index fell 10.42 points, or 1.01 percent, to 1,020.29 and the Nasdaq was down 20.78 points, or 0.99 percent, to 2,088.46.