Jobs disappointment knocks Wall Street lower

by Blogburger on July 6, 2012

Traders work on the floor of the New York Stock ExchangeNEW YORK (Reuters) – Stocks fell sharply on Friday after dismal jobs data reinforced the view that the economy is stuck in a slow-growth rut. News that the world's largest economy created just 80,000 jobs in June – far fewer than needed to lower the 8.2 percent unemployment rate – added to evidence that Europe's debt crisis is weighing on global growth. The report followed other data this week that U.S. manufacturing shrank in June and service sector growth slowed to its lowest level since January 2010, which spurred speculation the Federal Reserve may take more action to stimulate the …



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