Quick US market update

A flat reading from the jobs market sank stocks and plunged the Nasdaq to its biggest single-session drop since November. The Nasdaq Composite careened 67.96 points, or 2.3%, to 2956.34. Friday's losses punctuated what was the biggest weekly decline for the technology-heavy benchmark, which fell 3.7% this week, its steepest weekly loss in since December.

The Dow Jones Industrial Average and Standard & Poor's 500-stock index had the biggest drop in a month. The Dow fell 168.32 points, or 1.3%, to 13038.27, while the S&P 500 shed 22.47 points, or 1.6%, to 1369.10. Both benchmarks fell for the first week in three.

Crude-oil prices shed 4%, to $98.49 a barrel, while gold prices rose 0.6%, to $1644.70 a troy ounce. The dollar fell against the euro and the yen. The yield on the 10-year Treasury note fell to a three-month low, trading recently at 1.880%.

Author: Chris Davies

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