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US STOCKS-Weak jobs data sink Wall St; crude oil slumps

Thu Jul 2, 2009 8:03pm IST
 
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* June payrolls data worse than expected

* Commodities ease as U.S. dollar rises

* Factory orders increase, but equity investors unmoved

* Indexes off: S&P 500 2.3 pct, Dow 2, Nasdaq 2.6

* For up-to-the-minute market news click [STXNEWS/US]

(Updates to mid-morning)

By Edward Krudy

NEW YORK, July 2 (Reuters) - U.S. stocks fell sharply on Thursday after payrolls data showed more Americans than expected lost their jobs in June, dimming hopes of a quick economic recovery.

U.S. employers cut 467,000 jobs in June, far more than the 363,000 forecast by a Reuters survey, while the unemployment rate rose to 9.5 percent, the government said on Thursday in a report that showed a labor market continuing to struggle. [ID:nN01210643]  Continued...

Britain's Prime Minister Gordon Brown speaks, as finance minister Alistair Darling listens at the G20 Finance Ministers meeting in St. Andrews, Scotland. REUTERS/POOL New
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