Stocks Dive on Jobs Report

By Kevin Spak,  Newser Staff
Posted Apr 1, 2009 8:42 AM CDT
Traders work on the floor of the New York Stock Exchange, Tuesday, March 31, 2009 in New York.   (AP Photo/Mary Altaffer)
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(Newser) – A worse-than-expected jobs report sent stocks tumbling at the open today. The Dow careened down 125 points, while the S&P and Nasdaq sunk 1.8% and 1.9%, respectively. The private sector lost 742,000 jobs in March, according to a new ADP report. Investors were also nervous about reports that President Obama viewed bankruptcy as the best option for GM.