May 21, 2013
Global stocks drop on US jobs data
US stocks fell about 1 percent on Friday as another month of tepid jobs growth underlined fears the economy was stalling, though not to the point where more economic stimulus from the Federal Reserve was imminent.
Friday's losses meant the S&P 500 index ended the week 0.6 percent lower, with technology and industrial shares the day's biggest losers. Tech was hit by weak outlooks in the software sector, which dragged lower Dow component Hewlett Packard 3.5 percent to $19.57.
The Dow Jones industrial was down 124.20 points, or 0.96 percent, at 12,772.47. The Standard & Poor's 500 Index was down 12.90 points, or 0.94 percent, at 1,354.68. The Nasdaq Composite Index was down 38.79 points, or 1.30 percent, at 2,937.33.
European shares posted their worst one-day fall in around two weeks as persistent worries over US economic growth and the euro zone debt crisis led an equities sell-off, although key stock indexes nevertheless recorded a fifth week of gains.
The FTSEurofirst 300 index closed down 1 percent at 1,033.77 points - its biggest one-day fall since losing 1.6 percent on June 25.
In Asia, Nikkei average fell as investors were unconvinced that fresh monetary easing by China, the UK and Europe will be sufficient to jumpstart slowing global growth. The benchmark Nikkei share average fell 0.7 percent to 9,020.75, retreating further from Wednesday's two-month closing high of 9,104, while the broader Topix index shed 0.6 percent to 771.83.