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Auto Outlook: Toyota bullish on U.S. comeback
NEW YORK, July 2 (UPI) -- U.S. markets plunged Thursday after the Department of Labor said the unemployment rate rose from 9.4 percent to 9.5 percent in June.
Economists had predicted a sharper increase, but 467,000 jobs lost in the month undermined confidence in a recovery.
By close, the Dow Jones industrial average lost 223.32 points, or 2.63 percent, to 8,280.74. The Standard & Poor's 500 dropped 2.91 percent, 26.91 points, to 896.42. The Nasdaq composite index shed 49.20 points, 2.67 percent, to 1,796.52.
On the New York Stock Exchange, 652 stocks advanced and 2,404 declined on a volume of 4.1 billion shares traded.
The benchmark 10-year U.S. Treasury bond rose 14/32 to yield 3.497 percent.
The euro fell to $1.3998, compared to Wednesday's $1.4142. Against the Japanese yen, the dollar rose to 95.93 yen, compared to Wednesday's 96.64 yen.
In Tokyo, the Nikkei average lost 63.78 points to 9,876.15, off 0.64 percent.
In London, the FTSE 100 index dropped 2.11 percent, 63.78 points, to 9,876.15.
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WASHINGTON, Feb. 14 (UPI) --
White House critics say raising taxes on domestic energy is bad policy, though supporters counter the U.S. budget addresses the energy sea change.
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WASGHINGTON, D.C., Feb. 13 (UPI) --
Defense industries are weighing the potential impact of proposed defense cuts running into tens of billions of dollars over the next 10 years.
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Local markets will probably not be swamped by waves of foreclosures following the multi-state mortgage settlement announced yesterday. Rather, the huge inventory of one to two million foreclosures will enter markets gradually....
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President Barack Obama has revealed a budget that, once again, will give the Republican party a chance to show that vitriol is more fun than compromise.
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