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.
Tim Catts
View all Articles »Banking Reporter
Tim Catts is the banking reporter for DailyFinance. He has reported on corporate finance, taxes, the retail industry, small business and the economy for BusinessWeek, the New York Daily News and Bloomberg News, among other publications. He shared awards from the Society of American Business Editors and Writers and American Business Media with colleagues at Financial Week for coverage of the credit crisis and was a finalist in the "Best Scoop" category for the World Leadership Forum's 2008 Business Journalist of the Year Award.
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