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Dow Plummets 200+ Points

Weak jobs report leads to market troubles

By Evann Gastaldo,  Newser Staff

Posted Jun 1, 2012 10:07 AM CDT

(Newser) – The Dow's gain for the year is gone, thanks to today's terrible jobs report. The Dow fell more than 200 points following the report, according to the AP. At 11am EDT, it was at 12,170, down 224 points. That's a loss of about 0.3% for the year. The S&P 500 and the Nasdaq dropped more than 1.5% in early trading, although both were still up for the year. MSNBC adds that the VIX index, which measures investor fear, rose to hit levels last seen in December.

Specialist Michael Gagliano, left, work with traders at his post on the floor of the New York Stock Exchange Friday, June 1, 2012.
Specialist Michael Gagliano, left, work with traders at his post on the floor of the New York Stock Exchange Friday, June 1, 2012.   (AP Photo/Richard Drew)
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COMMENTS
Showing 3 of 9 comments
chrispy
Jun 2, 2012 2:07 PM CDT
I do so wish reporters would get a grip on the numbers and the idea of percent increase/decrease. "That's a loss of about 0.3% for the year." The year isn't over, and this is hardly "plummeting", "plunging", or any other strong word for losing value. Back when the DJ was 1K, a 200 point loss was significant. Now, not so much. Take a deep breath and calm down already!
chezwhat
Jun 1, 2012 10:03 PM CDT
Republicans have never had to manage the recession their president left behind. If Obama is indeed a one-termer (spoiler alert: he won't be) the republicans will be fucked. They don't know how to run a government.
Hyote
Jun 1, 2012 7:42 PM CDT
The market drops are the manipulations of the 1% aka Almighty Job Creators. Their greed and bad decisions are protected by the laws they have purchased from our elected officials. They now spend 100's of millions on an election that would have been better spent creating meaningful jobs.  The 1% rob us at the stock market, paralyze the government and try to trick us (with paid bloggers and all) into electing a CEO instead of a President. Corporations are not Democracies and CEO's treat employees like subjects not citizens. CEO's do only one thing well and that is suck the till dry, make fortunes for themselves and float away on golden parachutes. Vote for Democracy not Incorporation.

 
stock market • NASDAQ • Dow Jones • unemployment • US economy • markets • Dow • Standard and Poor • S&P 500 • jobless • unemployment rate • jobs • Standard & Poor's • S&P

 
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