Wall Street Today | US Jobless Claims Fall to 201,000, Lowest Level Since January

Applications for US unemployment benefits fell to the lowest level since January last week, indicating a healthy labor market that continues to support the economy.

Initial jobless claims dropped by 20,000 to 201,000 in the week ending Sept. 16, returning to within striking distance of the lowest level in more than five decades, according to Labor Department data out Thursday.

Investors dealing with a Federal Reserve-induced hangover are suffering as all asset classes deliver losses that aren’t expected to diminish any time soon.

Five major exchange-traded funds that track stocks, bonds, or commodities are poised for their first week of tandem losses in a month. Each is down at least 0.8% over four trading sessions, the third worst week since October.

Oil steadied as a broad, risk-off sentiment eroded gains driven by Russia’s ban on gasoline and diesel exports, further tightening an already stressed global fuel market. The measures, designed to stabilize Russia’s domestic fuel prices, will remove supplies from the worldwide diesel market when refiners struggle to meet demand.

West Texas Intermediate settled below $90 a barrel, after rallying close to $91 earlier. In broader markets, investors fled risky assets after the Federal Reserve flagged that borrowing costs would likely stay higher for longer.