Wall Street tumbles after jobs losses top estimate
- Source: Xinhua
- [10:01 July 03 2009]
- Comments
Wall Street took a dive in early trading on Thursday, after the US government reported that the June unemployment rate hit a 26-year high.
The US Labor Department's unemployment figures showed employers cut a larger-than-expected 467,000 jobs in June, driving the unemployment rate up to a 26-year high of 9.5 percent, suggesting that the economy's road to recovery will be bumpy.
The Dow Jones lost 136.18 to 8,367.88. Broader indexes also plummeted. The Standard & Poor's 500 index fell 15.51 to 907.82; and the Nasdaq dipped 32.65 to 1,813.07.