subscribesubscriber servicescontact usabout ussite mapBuy a Classified
Thu, Nov 26 2009 

Resources

print this story   Print this story
  Post to del.icio.us

Published July 02, 2009 11:53 am -

World stocks fall sharply on US jobs gloom


PAN PYLAS
AP Business Writer

LONDON (AP) — World stock markets fell sharply Thursday after worse than expected U.S. jobs data reined in investor hopes of a swift end to recession.

In Europe, the FTSE 100 index of leading British shares closed down 106.44 points, or 2.5 percent, to 4,234.27 while Germany's DAX fell 186.95 points, or 3.8 percent, to 4,718.49. The CAC-40 in France was 100.59 points, or 3.1 percent, lower at 3,116.41.

On Wall Street, the Dow Jones industrial average was down 176.84 points, or 2.1 percent, at 8,327.22 around midday New York time while the broader Standard & Poor's 500 index fell 20.90 points, or 2.3 percent, to 902.43.

Early selling pressure was amplified by the news from the U.S. Labor Department that the U.S. economy shed 467,000 jobs in June, nearly 100,000 more than anticipated, and way more than the 322,000 decline in May.

June's jobless figures brought an end to a run of five straight months of improvements and dampened expectations that the U.S. economy was poised for a strong recovery soon.

Though the headline payrolls number fell by more than anticipated, the unemployment rate did not rise as much as expected but still hit a 26-year high of 9.5 percent. Some economists were predicting it would rise to 9.7 percent.

Nevertheless, the headline payrolls data weighed on markets as it provided ample evidence to investors that any recovery will be a long, hard slog.

"The heavy loss of jobs in June is a warning that the road to recovery will be bumpy, but doesn't yet indicate that we have gone off the track," said Nigel Gault, chief U.S. economist at IHS Global Insight.



print this story    email this story   






autoconx
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide


Premier Guide

Premium Jobs

5354-Hospital Openings
HOSPITAL OPENINGS
Okmulgee Memorial Hospital, Inc. is accepting applications for the following positions:

...>MORE

112231-Positions Available


Positions Available
Oklahoma School for the Blind
Direct Care Specialist, Z12B, Level II, (3 posit
...>MORE

5323-Delivery Driver


DELIVERY DRIVER
Eufaula, Oklahoma
Starting pay $14.50 hr
+ incentive pay

- Must ha
...>MORE

5443-Hospital Openings
Positions Currently Available
Cashier - Dining Services - Full-time, rotating day shift
Clinical Dietitian - F
...>MORE

5375-Mid Continent
MID-CONTINENT
CONCRETE COMPANY
MIXER DRIVERS
NEEDED
We offer: Competitive Pay and Excellent Benefits
...>MORE

See all ads

Premium Extras

5454 Catalina Hot Tub
Catalina Hot Tub, works great, lots of extras $1500. 918-630-8119....>MORE

5426 Jack Russell puppies
Jack Russell Puppies, for sale. Shots & wormed. $85 each. 918-348-1269...>MORE

5428-Boxer puppies
Boxer puppies, AKC registered, black & white and white, 3 female 918-457-5911....>MORE

5437-2004 Chevy
2004 Chevy 2500 HD Dura Max Diesel, 4x4, Extended Cab $12,900. 918-843-1605 - 682-4646...>MORE

5424 scottish terrier
Scottish Terrier puppies, black, AKC & DNA, 5 females, ready to go. 12-1-09 $300ea. 918-773-8070....>MORE

See all ads


 

Community Newspaper Holdings, Inc.CNHI Classified Advertising NetworkCNHI News Service
Associated Press content © 2009. All rights reserved. AP content may not be published, broadcast, rewritten or redistributed.
Our site is powered by Zope and our Internet Yellow Pages site is powered by PremierGuide.
Some parts of our site may require you to download the Flash Player Plugin.
View our Privacy Policy
Advertiser index