Positive Jobs Report No Help to US Stocks
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iStock/Thinkstock(NEW YORK) — U.S. markets called it a week with big sell-off.
It was the worst day in almost two months for the Nasdaq Composite, which plunged 110 points to 4,127.73 — a drop equivalent to the Dow Jones Industrial Average closing down more than 400 points. The tech-heavy index includes Netflix, Amazon, Tesla and Facebook, among other companies in the technology sector.
The Dow Friday dropped 160 points to 16,412.71 for its worst trading day in two weeks. The S&P 500 gave up 24 points to finish the session at 1,865.09.
Even a mostly encouraging monthly employment report didn’t impress investors. The Labor Department says 192,000 new jobs were created in March — a sign that hiring is steady. The numbers for January and February were also revised higher.
The White House says 3 million Americans signed up for Medicaid under the new health care law as of the end of February. It’s the first snapshot of how much the safety-net health program’s grown since the implementation of the law.
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