Dow tumbles after US jobs data
Jul 08 2012
US stocks closed sharply lower on Wall Street after the US government reported that only 80,000 jobs were created in June, the third straight month of weak hiring.
The Dow Jones industrial average fell 124 points to 12,772. The loss wiped out the Dow's gain for the week.
The unwillingness of US employers to add jobs quickly shows that the economy is still struggling three years after the recession officially ended.
The Standard & Poor's 500 slid 13 points to 1,355 and the Nasdaq composite fell 39 points to 2,937.
Falling stocks outpaced rising ones by over two to one on the New York Stock Exchange. Volume was very thin at 2.6 billion shares.
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