Stocks punished as dismal data on jobs dampens recovery hopes

What's the opposite of a green shoot? Whatever it is, that's how investors saw today's worse-than-expected jobs figures. The news that June's unemployment rate reached 9.5 percent seemed to kill off a fair number of the economic saplings that bullish market commentators have been spotting everywhere for the past few months, sending the Dow Jones industrial average down 223 points, or 2.6 percent, to 8,281.

Alcoa (AA), Travelers (TRV) and JPMorgan (JPM) all lost more than 4 percent to lead the DJIA lower. All 30 of the average's component stocks fell in today's session. Trading was light; markets are closed tomorrow in observance of Independence Day.

For more on stocks making moves, be sure to check out BloggingStocks' market wrap-up.

Learn about investing from the comfort of your own home.

Portfolio Basics

Take the first steps to building your portfolio.

View Course »

Investment Strategies

Learn the strategies you need to build a winning portfolio

View Course »

Add a Comment

*0 / 3000 Character Maximum