Stocks are trading sharply lower at midday after a dismal report on the job market stifled hopes for a quick economic rebound.
The Labor Department says only 18,000 jobs were created in the U.S. last month, the fewest in nine months. The report doused hopes for a quick rebound after the economy slumped this spring.
Traders sold stocks, erasing the week's gains, and piled into the relative safety of government bonds. The yield on the 10-year Treasury note fell to 3.02 percent from 3.19 percent before the jobs report was released.
Just before noon, the Dow is down 109, or 0.9 percent, at 12,611. The S&P 500 is down 15, or 1.1 percent, at 1,339. The Nasdaq is down 30, or 1 percent, at 2,843.
To comment, the following rules must be followed:
Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.
Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Questions may be sent to firstname.lastname@example.org. Please provide detailed information.
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or email@example.com.