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New York - U.S. Stocks Slide More Than 200 Points |
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Trading was being extended to 4:15 p.m. ET today to compensate for an earlier technical glitch.
The Dow Jones Industrial Average was down more than 200 points
"The jobs report was weaker than expected and it throws a little cold water on the economic-rebound"
Employers slashed 467,000 jobs from nonfarm payrolls in June and the unemployment rate ticked up one-tenth of a percent to 9.5 percent. Economists had expected a much smaller job loss of 365,000 but a slightly higher unemployment rate of 9.6 percent.
The report indicates the "labor market is still terrible," Ian Shepherdson, chief U.S. economist at High Frequency Economics, wrote in a note to clients. "[D]on't be swayed by small unemployment [rate] rise. Wages will soon be falling outright, a classic deflation signal," he said.
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Jul 02, 2009 at 03:25 PM tenant Says:
she had the penthouse, she gets 2.5 mil., i am still in the basement with no savings.....have i got a shot?