Weekly initial claims for jobless benefits edged down by 33,000 to a seasonally adjusted 860,000 in the week ended Sept. 12, as layoffs remain elevated despite signs of a broader labor-market recovery.

New York City Mayor Bill de Blasio said teacher shortages were the key factor that led to the decision to postpone in-person classes again.

The Dow industrials and S&P 500 fell, pointing to a steepening rout in share benchmarks as investors became unsettled by the Federal Reserve’s dour outlook as well as conflicting signals about when vaccines may become available.

Backers of plans for Oracle to join with TikTok to create a new U.S. company for the video-sharing app are working on a new ownership structure aimed at alleviating U.S. concerns over Chinese control.