US stocks slump amid jobless concerns
Fri Aug 28 01:04:10 EST 2009
Thu Aug 27 15:04:10 UTC 2009
US stocks have slumped on concerns over the unemployment situation .. even as the economy stayed on a path of recovery from its deep recession.
The Dow Jones Industrial Average lost 41.87 points .. or 0.44 per cent to 9,501.65 in opening trades .. after seven straight session of gains.
The tech-heavy Nasdaq composite fell 19.34 points .. or 0.96 per cent to 2,005.09 .. and the Standard and Poor's 500 index .. a broad measure of the market .. shed 7.43 points (0.72 per cent) to 1,020.69.
Before the opening bell .. the Commerce Department reported the economy shrank at a 1.0 per cent annual pace in the second quarter .. leaving unrevised an estimate from a month earlier.
AAP RTV ldj/psm/
