Markets Fall After Weak Jobs Report

Dow, S&P 500, Nasdaq all close lower
By Newser Editors and Wire Services
Posted Jun 3, 2016 3:16 PM CDT
Markets Fall After Weak Jobs Report
Specialist Michael Pistillo, left, and trader Timothy Nick work on the floor of the New York Stock Exchange, Friday, June 3, 2016.   (AP Photo/Richard Drew)

Stocks fell and bond prices rose after the government reported a sharp slowdown in hiring last month, the AP reports. The Labor Department also reported Friday that the unemployment rate fell to its lowest level since 2007 as more people stopped looking for work. Banks fell more than the rest of the market as traders anticipated that interest rates would remain low for a while longer. Bank of America and Citigroup each fell about 3%. The dollar also fell against other currencies. The Dow Jones industrial average lost 31 points, or 0.2%, to 17,807. The Standard & Poor's 500 fell 6 points, or 0.3%, to 2,099. The Nasdaq composite dropped 28 points, or 0.6%, 4,942. (Read more Dow Jones stories.)

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