Stocks plunge after US hiring dries up in August US stocks dive after government says that hiring halted in August, adding to recession fears
Daniel Wagner, AP Business Writer, On Friday September 2, 2011, 11:53 am Stocks are sinking after an awful report on the job market in August.
The government said early Friday that no new jobs were created last month. It was the worst jobs report in 11 months. The unemployment rate held steady at 9.1 percent. It has been above 9 percent in all but two months since May 2009.
Overseas markets followed U.S. stocks lower. They already had fallen on reports that talks about Greece's shaky finances were breaking down.
At 11:45 a.m., the Dow Jones industrial average was down 160 points, or 1.4 percent, at 11,334. The Standard & Poor's 500 index fell 19, or 1.6 percent, to 1,186. The Nasdaq composite index fell 37, or 1.4 percent, to 2,510.
All 30 stocks in the Dow fell. |
