Stocks stumble: Nasdaq loses 2.6% after jobs news


Adam Shell and Will Cummings
USA Today
April 4, 2014

Stocks stumbled — the Nasdaq taking a particular pounding — after a report indicated that the nation’s jobless rate was unchanged for March.

The job market grew, with employers adding 192,000 jobs in March as milder weather helped propel the labor market out of its winter doldrums. But the unemployment rate stayed still because because there were more people looking for jobs, including previously discouraged workers, the Labor Department said Friday.

The Nasdaq composite index was hammered, closing down 2.6%, or about 110 points. The Dow Jones industrial average finished down 1% — a 160-point loss — and the S&P 500 ended 1.25% lower — down nearly 24 points.

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