Stocks dropped on Thursday, with the Dow falling nearly 260 points, as market participants became more concerned over the global economic recovery from the coronavirus pandemic. Much of the losses followed Japan declaring a state of emergency in Tokyo ahead of the upcoming Olympics and banding spectators as nations continue to battle multiple COVID variants.

Here's how the market settled on Thursday:

S&P 500 Index (SPY  ): -0.86% or -37.28 points to 4,320.85

Dow Jones Industrial Average (DIA  ): -0.75% or -259.86 points to 34,421.93

Nasdaq Composite Index (QQQ  ): -0.72% or -105.28 points to 14,559.79

Instacart poaches head of Facebook's app:

Grocery delivery startup Instacart announced Thursday it has hired Fidji Simo, the head of Facebook's (FB  ) app, as its new CEO. The poaching move by Instacart will set her up to be the first outsider to lead the unicorn, which was last valued at $39 billion.

Instacart said Simo will succeed founder Apoorva Mehta as CEO on August, and Mehta will transition to be executive chairman of the board. Simo worked on Facebook's video content, livestreaming, and video streaming projects and joined Instacart's board earlier this year.

Beyond Meat launches meat-free chicken tenders in U.S. restaurants:

Beyond Meat (BYND  ) announced Thursday the launch of its new meat-free chicken tenders in almost 400 restaurants across the United States, the first available from the brand in over 2 years.

The new and improved meat-free chicken recipe uses a mix of fava beans and peas for a total of 14 grams of protein per serving. The product launch comes after the company previously discontinued its original chicken substitute, frozen chicken strips, in order to focus on its flagship Beyond Burger.

State attorneys general file another antitrust lawsuit against Google:

A group of 37 state attorneys general filed on Wednesday a second major multi-state antitrust lawsuit against Google (GOOGL  ), accusing the tech giant of abusing its market power to harm competitors and force consumers into in-app payments while taking a large cut.

New York Attorney General Letitia James is co-leading the suit with the Tennessee, North Carolina, and Utah attorneys general. The bipartisan coalition represents 36 US states plus the District of Columbia.

"Through its illegal conduct, the company has ensured that hundreds of millions of Android users turn to Google, and only Google, form the millions of applications that may choose to download to their phones and tablets," James said in a statement. "Worse yet, Google is squeezing the lifeblood out of millions of small businesses that are only seeking to compete."

In the new suit, the states argue that Google uses "misleading" security warnings to keep consumers and developers within its ecosystem and uses monopoly power to rake in a 30% fee on in-app payments.

Here's how market benchmarks stood after opening bell:

S&P 500 Index: -1.38% or -60.24 points to 4,297.89

Dow Jones Industrial Average: -1.11% or -385.04 points to 34,296.75

Nasdaq Composite Index: -1.67% or -245.46 points to 14,416.08

New jobless claims unexpected rise last week:

Weekly unemployment claims unexpectedly increased for the week ended July 3, totaling 373,000 and rising from the upwardly revised 371,000 from the previous week.

Continuing jobless claims were slighting lower than expected for the week ended June 26, totaling 3.339 million versus the 3.35 million anticipated.