Big Losses on Wall Street Despite Lower Unemployment Rate - East Idaho News
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Big Losses on Wall Street Despite Lower Unemployment Rate

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Thinkstock 030615 WallStreet?  SQUARESPACE CACHEVERSION=1425676293125JaysonPhotography/iStock/Thinkstock(NEW YORK) — Friday featured big losses on Wall Street, despite a jobs report that showed a 12th consecutive month of job gains.

The Dow Jones Industrial Average dove to 17856.78, dropping 278.94 from its open.

The Nasdaq slipped 55.44 to a close of 4927.37, while the S&P 500 fell 29.78, ending the session at 2071.26.

The Labor Department reported on Friday that the U.S. economy added nearly 300,000 jobs in February. The unemployment rate fell from 5.7 percent to 5.5 percent.

A bit of negative news in the Labor Department report, however, the January job growth number was lowered by about 18,000 from the its initial reporting.


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