Skip to comments.World markets plunge despite strong US jobs data
Posted on 05/07/2010 11:26:55 AM PDT by NormsRevenge
LONDON A strong set of U.S. jobs data Friday failed to shore up confidence in world markets as stocks plunged again amid mounting fears that Europe's debt crisis could spread and derail the global economic recovery.
In Britain, where investors were grappling with uncertain general election results, the FTSE 100 index slid 209.98 points, or 4 percent, at 5,051.01, while the pound oscillated wildly.
Germany's DAX slid 226.05 points, or 3.8 percent, to 5,682.21 while the CAC-40 in France was 112.56 points, or 3.2 percent, lower at 3,443.55.
And on Wall Street, the Dow Jones industrial average plunged 210.09 points, or 2 percent, to 10,310.23 soon after the open while the broader Standard & Poor's 500 index tumbled 26.30 points, or 2.3 percent, to 1,101.85.
There had been hopes that Wall Street would open higher after strong U.S. jobs data helped push other concerns, primarily centered on Europe's debt crisis, aside for a while.
(Excerpt) Read more at news.yahoo.com ...
“strong US jobs data?” BAAWWAAAHHHHHHHH....No...they are seeing through the LIES.....
The AP is a joke. Do you post this with no comments to pimp for AP Yahoo or do you belive this s**t?
Strong jobs data as compared to where it will be in a year from now.
Someone’s on crack-—foo!
Had to add that.
Strong jobs data means “fake” unemployment rises to 9.9% and real unemployment rises to 17.1%...
RAF CASERT and ELENA BECATOROS, Associated Press Writer
BRUSSELS Amid ruthless financial turmoil, German Chancellor Angela Merkel urged European leaders to sharpen the core rules underpinning the euro to avoid debt crises like the one which has pushed Greece to the brink of bankruptcy and threatened other fragile eurozone nations.
"We must sharpen the edge" of the rules to keep wayward governments in line, Merkel said, adding the 16 eurozone leaders should also consider changes to the 1992 treaty that laid the groundwork for the shared currency. "Otherwise, it won't work, in my opinion."
The euro has rules to stop governments from undermining it with reckless spending, limiting deficits to 3 percent of gross domestic product. Those rules were shown to lack teeth when even big countries such as Germany and France broke them without serious consequences.
“There had been hopes that Wall Street would open higher after strong U.S. jobs data”
I agree with the above posters. Anyone with “skin” in the game knows this is a joke. Bwahahahahahahahahahahahaha.
However, the jobless rate rose to 9.9 percent from 9.7 percent.
American Pravda at it again.................
All those Census jobs “padding” the jobs numbers...
Pray tell, how do a bunch of new workers translate to a higher unemployment percentage? Are these 'new workers' automatically unemployed? Since the unemployment percentage is based on those getting unemployment payments, are these 'new workers' entering the market automatically qualifying for unemployment?
I'll tell you one thing for sure. This administration is full of more shit than a Christmas turkey.
This is an ap wire piece, I post off yahoo but could link it off of any number of sites.
If I feel like posting a comment, I will.
btw, I am not a shill for yahoo or anyone.
Check your IFF. ;-)
Government to hire many more unicorn tenders soon, anticipates vast demand.
Our media are tools.
You got it. They have lost their bearings.
that “strong US jobs data” is not as strong as the waft of BS over the AP reporting
Pravada was more objective than the AP, CNN, CBS, ABC, MSNBC, et al.
Fox/Saudia is catching up with them. Boycott and cancel TV.
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