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Subject: US stocks tumbled Monday disappointing jobs report


Author:
April 9th 2012
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Date Posted: 14:11:45 04/09/12 Mon

..International markets roundup

AAP – 8 minutes ago
....
Share0EmailPrint.....
A roundup of trading on major world markets:

NEW YORK - US stocks tumbled Monday after last week's disappointing jobs report showed a slowdown in hiring that raised concerns about the strength of the economic recovery.

The Dow Jones Industrial Average fell one per cent, as Wall Street got its first chance to react to the government's labour data, released when the US markets were closed for Good Friday.

The government reported the economy created a meagre 120,000 jobs in March, well below analyst forecasts of 200,000.

The Dow finished the session at 12,929.59, down 130.55 points.

The broad-market S&P 500 shed 15.88 points (1.14 per cent) to 1,382.20, while the tech-heavy Nasdaq dropped 33.42 points (1.08 per cent) to 3,047.08.

The weak US jobs report raised speculation that the Federal Reserve may yet have to apply fresh stimulus to juice growth.

LONDON - Many European bourses were closed on Monday.

HONG KONG - Asian markets edged lower in limited holiday trade after weaker-than-expected US jobs data hit market sentiment while rising inflation in China also weighed on investors.

A stronger yen - which rose after figures showed Japan's February's current account swung back to surplus from a record deficit in the previous month - took a toll on Japanese exporters' shares.

Tokyo on Monday fell 1.47 per cent, or 142.19 points, to 9,546.26, Seoul closed 1.57 per cent, or 31.95 points, lower to 1,997.08 and Taipei dropped 1.37 per cent, or 105.39 points, to 7,600.87.

Shanghai was down 0.33 per cent, or 7.68 points, to 2,298.88 in afternoon trade.

Markets in Hong Kong, Sydney, and Bangkok were closed.

WELLINGTON - The NZX50 was closed on Monday.

....@y7finance on Twitter...

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