Thu, 28 May 2020

NEW YORK, New York - A streak of 113 consecutive months of jobs growth came to an end with data released on Friday for March.

And it finished with a thud. Rather than growth, 701,000 jobs were lost in March.

"Even as investors may be bracing for some grim economic reports over the next several weeks, we got a very sober reminder of what is to come by way of today's jobs report," Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia told the Reuters Thomson news agency on Friday.

Wall Street in the way it normally would, sent share prices tumbling.

The Dow Jones Industrial Average fell 360.91 points, or 1.69%, to 21,052.53.

The Standard and Poor's 500 slid 38.25 points, or 1.51%, to 2,488.65.

The Nasdaq Composite dived 114.23 points, or 1.53%, to 7,373.08.

The already-strong and strengthening U.S. dollar made another upward spike on Friday, sending every major currency running for cover.

The euro dropped half-a-cent to 1.0806. The British pound dived to 1.2270. The Japanese yen buckled to 108.53. The Swiss franc sank to 0.9768.

The Canadian dollar weakened to 1.4210. The Australian dollar fell sharply to 0.5997, while the New Zealand dollar dived to 0.5888.

On overseas equity markets, in London the FTSE 100 declined 1.18%. The German Dax was off 0.47%, while in Paris, the CAC 40 lost 0.60%.

On Asian markets, in Japan, the Nikkei 225 fell 69.01 points or 0.39% on Friday to 17,749.71.

The Australian All Ords slipped 81.80 points or 1.58% to 5,106.90.

China's Shanghai Composite dipped 16.65 points or 0.60% to 2,763.99.

In Hong Kong, the Hang Seng lost 43.95 points or 0.19% to 23,236.11.

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