Stocks sank, erasing most of a weekly gain for U.S. benchmark indexes, commodities slid and Treasuries jumped as slower-than-forecast job growth spurred concern the economic recovery is in jeopardy. The euro weakened and Italian bonds fell amid concern Europe’s debt crisis will worsen.
The Standard & Poor’s 500 Index sank 1.3 percent to 1,336.26 at 11:26 a.m. in New York, leaving it down 0.3 percent for the week. Oil slipped 2.6 percent to $96.08 a barrel, helping drag the S&P GSCI Index of commodities to a 0.9 percent drop even as gold extended its biggest weekly advance since 2009. The 10-year Treasury yield decreased 13 basis points to 3.01 percent. The euro depreciated 0.9 percent to $1.4236.
Full Story: Stocks tumble on slowing U.S. job growth