U.S. markets stumble Friday on jobs report

Posted on Jul 7, 2012 in Business | 0 comments

Stock indexes tumbled in New York Friday, reacting to a weak report on jobs.

The U.S. Labor Department reported 80,000 jobs were created in June. The unemployment rate remained unchanged at 8.2 percent.

The 80,000 added jobs in June were about 10,000 fewer than economists had expected.

In late afternoon trading, the Dow Jones industrial average lost 124.20 points, 0.96 percent, to 12,772.47. On the New York Stock Exchange, 987 issues advanced and 2,033 declined on volume of 2.672 billion shares.

The Nasdaq composite index lost 38.79 points, 1.3 percent, to 2,937.33.

The S&P 500 shed 12.90 points, 0.94 percent, to 1,354.68.

The 10-year benchmark treasury note yielded 1.54 percent.

The euro was $1.2299 from Thursday”s $1.2392. Against the yen, the dollar was 79.62 yen from 79.92 yen.

In Tokyo, the Nikkei 225 index gave up 0.65 percent, 59.05 points, to 9,020.75.

In London, the FTSE 100 index shed 0.53 percent, 30 points, to 5,662.63.

Copyright 2012 by United Press International