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Nasdaq Tumbles 3.8% on Employment Report |
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Author: 123jump.com Staff
123jump.com
Last Update: 11:20 AM EST January 04 2008
U.S. stocks fell sharply after weaker than expected employment report for the month of December. Economy created only 18,000 new jobs in the month and for the year generated 1.3 million new jobs, far less than the 2 million target set by the current U.S. administration. Intel lost nearly 10% after UBS cut its rating on the company. Crude oil and gold retreated after the jobs report. Retailers, technology, and consumer sensitive stocks fell sharply. Apple, RIM, Master Card, and Google declined. |
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