US jobs report hurts stocks

A report that showed only 88,000 U.S. jobs were added in March reversed the mood on Wall Street Friday, sending stocks downward. Economists had expected 200,000 new jobs but the total turned out to be the lowest in 10 months. Although the jobless rate was down a notch, to 7.6 percent, it was largely due to people dropping out of the workforce. By close of trading, the Dow Jones industrial average dropped 0.28 percent, losing 40.86 points, to 14,565.25. The Standard & Poor's 500 index lost 0.43 percent, 6.70 points, to to 1,553.28. The Nasdaq composite index of tech-dominated stocks gave up 0.65 percent, 21.12 points, to 3,203.86. On the New York Stock Exchange, 1,463 stocks advanced and 1,601 declined on a volume of 3.5 billion shares traded. The 10-year U.S. treasury note rose 15/32 to yield 1.714 percent. Against the dollar, the euro was higher at $1.2995 from Thursday's $1.2936. Against the yen, the dollar rose to 97.55 yen from Thursday's 96.34 yen. In Tokyo, the Nikkei 225 index added 1.58 percent, 199.10 points, to 12,833.64. In London, the FTSE 100 index lost 1.49 percent, 94.34 points, to 6,249.78.