Economic Jitters Spark Selloff On Wall Street
Originally published on Fox Business
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A disappointing jobs report left traders questioning the strength of the U.S. economic recovery, sending stocks sinking deep into the red.
As of 12:00 p.m. ET, the Dow Jones Industrial Average fell 140 points, or 1.1%, to 12920, the S&P 500 dipped 17.1 points, or 1.2%, to 1381 and the Nasdaq Composite dropped 34.4 points, or 1.1%, to 3046.
The Dow is now down for its fourth day in a row. If the blue-chip index closes in the red, it will be the longest losing streak since late 2011.
Many major equity markets, including those in the U.S., Europe and Asia, were closed when the Labor Department released its monthly jobs report on Friday. The data showed the economy adding only 120,000 jobs last month, the smallest gain since October, and far less than many economists expected.
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