NEW YORK (AP) — A global stock market slump is continuing on Wall Street as traders worry about how committed the Federal Reserve remains to keeping up its bond-buying program.

By Lucia Mutikani WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits fell more than expected last week, pointing to resilience in the labor market despite belt-tightening by Washington. Still, other data on Thursday suggested the federal austerity drive was combining with weak overseas demand to hold U.S. factory activity in May to its weakest rate of growth in seven months. Initial claims for state unemployment benefits dropped more than expected last week, falling 23,000 to 340,000, the Labor Department said. ...