Wall Street sinks on jobs data, Dow negative for 2012

by Blog Burger on June 2, 2012

Trader Mario Picone works on the floor of the New York Stock ExchangeNEW YORK (Reuters) – Stocks fell more than 2 percent on Friday, dragging the Dow into negative territory for the year after a dismal U.S. jobs report added to fears that Europe's spiraling debt crisis was dragging down the world economy. The S&P 500 closed at its lowest since early January and ended below its 200-day moving average for the first time in 2012 after the Labor Department said employers created just 69,000 jobs last month, the weakest in a year. The bleak May jobs report caps a week of soft economic data from China and growing problems in Europe as Spain's bank crisis deepened. …

Business News Headlines – Yahoo! News

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