US stocks close lower, give up earlier gains

The major US stock indices closed lower on Thursday, to give up the earlier gains, on concerns over a renewed US-China trade war.

The Donald Trump administration has accused China of mishandling the coronavirus outbreak, blaming it for the global pandemic.

The US Senate today passed a bill that would prevent Chinese companies from listing their shares for public offering on the US stock exchanges.

The US Department of Labor revealed that the US unemployment claims fell to 2.43 million in the past week, while the total number of unemployed people was at 38.6 million in 9 weeks.

West Texas Intermediate crude rose 1.3% to close at $33.9 a barrel, after it hit a day high of $34.6 and a low of $33.2.

Brent crude climbed 0.9% to $36.06 a barrel, with a high of $36.9 and a low of $35.7.

As for stocks, Dow Jones fell 0.4% or 369 points to close at 24,474, after it hit a day high 24,718 and a low 24,370.

Nasdaq fell 0.9% or 91 points to 9,285 points, with a high of 9,405 and a low of 9,254.

S&P 500 fell 0.7% or 23 points to 2,948 points, with a high of 2,978 and a low of 2,938.