Markets
US stocks pummeled by bleak jobs data
NEW YORK : US stocks closed more than two percent lower on Friday after a disappointing report on the United States's la
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NEW YORK: US stocks closed more than two percent lower on Friday after a disappointing report on the United States's labor market showed that job creation ground to a halt in August.
The Dow Jones Industrial Average was down 251.57 points (2.19 percent) to 11,242.00 in closing trade.
The broader S&P 500 fell 30.48 points (2.53 percent) to 1,173.94, while the tech-heavy Nasdaq Composite dropped 66.01 points (2.59 percent) to 2,480.03.
Stocks dived after the highly awaited US non-farm payrolls report revealed that the US economy created no jobs in August, leaving the unemployment rate at a stubbornly high 9.1 percent.
Copyright AFP (Agence France-Presse), 2011
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