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Wall Street tumbles on jobs data | |
(about 7 hours later) | |
(Closed): US stocks fell on Friday after lower-than-expected jobs figures signalled a potential softening in the US economy. | |
The Dow Jones Industrial Average fell 211.75 points to 16,204.83, while the S&P 500 shed 35.43 points to 1,880.02. | |
The Nasdaq fell 146 points to 4,363.15 as investors sold off tech stocks. | |
Earlier, the US Bureau of Labor Statistics said the US economy added 151,000 jobs in January, far fewer than the 292,000 created in December. | Earlier, the US Bureau of Labor Statistics said the US economy added 151,000 jobs in January, far fewer than the 292,000 created in December. |
The increase did bring the unemployment rate to 4.9% - the lowest level since the financial crisis. | |
In the tech sector some stocks saw dramatic losses. | |
Shares of social media site LinkedIn were down 44%, a day after the company forecast lower than expected profits for the first quarter of 2016. | |
Amazon shares dropped by 6.3%, while Apple stocks lost 2.6%. | |
Shares of Google's parent company, Alphabet fell 3.6%. On the Dow, Nike shares dropped 5% and shares of burger chain McDonald's fell by 4.4%. | |
Energy stocks were also hit hard as oil prices dropped. | |
Brent crude fell to $34.06 a barrel, while West Texas crude dropped to $30.89. |
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