Summary
NEW YORK - Wall Street plunged while bonds surged higher Friday after the government reported that payrolls in August fell for the first time in four years rather than rising, as had been expected. The Dow Jones industrial average fell nearly 250 points.
Wall Street had been awaiting the report all week as it sought to determine how well the economy was holding up under the weight of a faltering housing market, a rise in mortgage defaults and tightening availability of credit. Though the report is backward looking, investors regard it as an important proxy of the economy's overall health.See the full content of this document
Extract
Weak Job Report Stings Markets
"This certainly cements the case for a Fed a...
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