Tech stocks led the market lower.
The market opened lower on Thursday despite new unemployment claims beating Wall Street expectations, as stocks took a breather following robust gains so far this week. Millennial trading app Robinhood is facing a fraud investigation from the SEC for failing to disclose that it was selling clients’ orders to high-speed trading firms, The Wall Street Journal first reported on Wednesday. It marks the latest in a series of troubles for the online broker despite its unprecedented business growth.
