Investing.com - U.S. stocks fell in early Friday trading on news that the economy added less jobs than predicted in June.
In early U.S. trading, the Dow Jones Industrial Average was down 0.90%, the S&P 500 index was down 0.89% while the Nasdaq Composite index was down 1.00%.
The U.S. added a net 80,000 nonfarm payrolls in June, below market forecasts for a gain of around 90,000.
April figures were revised to 68,000 from 77,000 nonfarm payrolls, while May's numbers were revised to 77,000 from 69,000.
The numbers sent investors selling equities and snapping up safe-haven dollar positions on fears the U.S. economy continues to show signs of cooling.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.46% at 83.33.
Monetary policy decisions outside of the U.S. sent investors racing to the dollar to ride out uncertainty as well.
The European Central Bank cut its benchmark interest rate 25 basis points to 0.75%.
A Bank of England decision to inject GBP50 billion into the economy via stimulus measures followed by interest rate cuts in China also fueled the risk-off trading session.
Leading Dow Jones Industrial Average decliners included Alcoa, down 3.25%, Caterpillar, down 2.74%, and Hewlett-Packard, down 2.66%.
Markets will continue to digest the June jobs report on Friday, though sentiment the Federal Reserve will step in and stimulate the economy could spark bottom-fishing later in the session.
In early U.S. trading, the Dow Jones Industrial Average was down 0.90%, the S&P 500 index was down 0.89% while the Nasdaq Composite index was down 1.00%.
The U.S. added a net 80,000 nonfarm payrolls in June, below market forecasts for a gain of around 90,000.
April figures were revised to 68,000 from 77,000 nonfarm payrolls, while May's numbers were revised to 77,000 from 69,000.
The numbers sent investors selling equities and snapping up safe-haven dollar positions on fears the U.S. economy continues to show signs of cooling.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.46% at 83.33.
Monetary policy decisions outside of the U.S. sent investors racing to the dollar to ride out uncertainty as well.
The European Central Bank cut its benchmark interest rate 25 basis points to 0.75%.
A Bank of England decision to inject GBP50 billion into the economy via stimulus measures followed by interest rate cuts in China also fueled the risk-off trading session.
Leading Dow Jones Industrial Average decliners included Alcoa, down 3.25%, Caterpillar, down 2.74%, and Hewlett-Packard, down 2.66%.
Markets will continue to digest the June jobs report on Friday, though sentiment the Federal Reserve will step in and stimulate the economy could spark bottom-fishing later in the session.