Dow Jones Sinks Below 30,000; IBM to Cut Jobs; Salesforce Could Buy Slack

The Dow Jones Industrial Average (DJINDICES: ^DJI) fell back below 30,000 on Wednesday, one day after breaching that level for the first time. The Dow was down about 0.63% at 12:40 p.m. EST.

The economic recovery from the pandemic is looking shaky as cases of COVID-19 surge across the country. The Labor Department reported 778,000 initial claims for state unemployment benefits for the week ended Nov. 21, marking the second consecutive weekly increase.

Shares of International Business Machines (NYSE: IBM) sank along with the Dow on Wednesday following news that the company reportedly plans to cut thousands of jobs in Europe. Shares of salesforce.com (NYSE: CRM) also headed lower on reports that the software company is talking to Slack (NYSE: WORK) about a potential acquisition.

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Source Fool.com