Weak Jobs Read Slams Wall Street

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Originally published on Fox Business
FOX Business: The Power to Prosper Wall Street tumbled on Friday in a broad-based retreat amid signs that U.S. economic expansion may be losing some of its luster. Today's Markets As of 12:30 p.m. ET, the Dow Jones Industrial Average slid 160 points, or 1.2%, to 13046, the S&P 500 fell 21.1 points, or 1.5%, to 1370 and the Nasdaq Composite dipped 60.7 points, or 2%, to 2964. The energy, industrial, financial and technology sectors were taking the worst hit on the day. At the same time, the utilities sector, often seen as a defensive play, was in the green. Traders also bid up safe-haven Treasury bonds, pushing the yield on the 10-year down 0.018-percentage point to 1.918%. Oil prices plunged $4.32, or 4.2%, to $98.25 a barrel amid fears a slowdown in the U.S. economic recovery could weaken demand. Wholesale gasoline was down 3.1%, while natural gas was off 1.3%. Continue reading this article
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