Nonfarm payrolls rose by 290,000 jobs in April, compared to the estimate, which called for a 190,000 increase in jobs. The unemployment rate rose to 9.9%, above expectations calling for it to remain at 9.7%.Details from Bloomberg...
The Dow Jones Industrial Average fell 141 points (1.3%) to close at 10,380, while the S&P 500 Index lost 17 points (1.5%) to 1,111, and the Nasdaq Composite declined 54 points (2.3%) at 2,266. Crude oil fell $1.87 to $75.24 per barrel, and the Bloomberg gold spot price lost $1.43 to $1,207.15 per ounce. For the week, the DJIA lost 5.7%, the S&P 500 Index fell 6.4%, and the Nasdaq Composite declined 7.9%.
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