Stocks fell significantly on Thursday as investors reacted to three negative U.S. economic reports on unemployment, future activity, and manufacturing. A government report showed the number of people applying for unemployment benefits jumped unexpectedly last week to the highest level since last November. A private group said its index of leading economic indicators-designed to predict economic activity in the coming three to six months-rose only 0.1 percent in July. A report on manufacturing in the Philadelphia region said activity fell unexpectedly to a 13 month low. In company news, Intel announced it will acquire security software maker McAfee for $7.68 billion. The U.S. dollar rose versus the euro and fell versus the yen. Light sweet crude oil for September delivery fell 99 cents to $74.43 a barrel on the New York Mercantile Exchange. Gold futures rose $4 to $1,235.40. The Dow Jones industrial average fell 144.33, or 1.4 percent, to 10,271.21. The broader Standard & Poor's 500 index fell 18.53, or 1.7 percent, to 1,075.63. The technology-heavy Nasdaq composite index fell 36.75, or 1.7 percent, to 2,178.95. Shares of Intel fell 3 percent, while McAfee's stock jumped 57 percent.
