From Bloomberg: Stocks tumbled, almost wiping out the weekly gain for the Standard & Poor’s 500 Index, while the dollar, Treasuries and gold rose following a report showing American employers added no jobs in August. European sovereign- debt risk climbed to a record.
The S&P 500 fell 1.7 percent to 1,184.18 at 12:13 p.m. in New York and the Stoxx Europe 600 Index slumped 3 percent. The Dollar Index added 0.3 percent in a fourth straight advance, its longest rally since January, and the Swiss franc gained versus all 16 major peers. Yields on 10-year Treasuries slipped nine basis points to 2.04 percent. Gold jumped 2.7 percent to $1,878.80 an ounce and oil lost 2.1 percent to $87.10 a barrel.
The Labor Department said U.S. payrolls were unchanged last month, the weakest reading since September 2010 and worse than the median economist forecast that called for growth of 65,000. Stocks sank and Treasuries surged in August as investors bet that the odds of a recession had increased. Markets reversed course toward the end of the month amid speculation the Federal Reserve would act to spur growth.
Find out more at http://www.bloomberg.com/news/2011-09-02/asia-stocks-end-six-day-rise-as-u-s-futures-drop-franc-climbs-oil-falls.html
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