Oil-linked stocks fell as crude prices dropped.
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At the closing bell, the Dow Jones Industrial Average stood at 17,598.26, down 91.60 points (0.52 percent).
While the number was slightly below the 225,000 jobs Wall Street economists were looking for, economists and traders said the data was still good enough to show that the U.S. economy continues to improve.
The most anticipated economic release of the week comes Friday with the July jobs report. Britain’s FTSE 100 edged down 0.2 percent.
WELLINGTON – The S&P/NZX 50 Index fell 24.09 points, or 0.4 per cent, from its record level to 5933.76.
The Dow’s recent weakness was exacerbated on Thursday by a decline in technology shares, which pushed the index down 0.7 percent.
Bond prices rose. The yield on the 10-year US Treasury fell to 2.17 per cent from 2.22 per cent Thursday, while the 30-year dipped to 2.83 per cent from 2.89 per cent. Bond prices and yields move inversely. Nvidia Corp. jumped 12 percent after predicting sales that may exceed some estimates.
EUROPE AND ASIA: European stocks remained mostly lower after the jobs data.
The energy and utility sectors were the only advancers in the S&P 500, up 1.5 percent and 0.5 percent, respectively. Social networking companies LinkedIn (-3.0 percent) and Twitter (-5.6 percent) fell, adding to their declines following disappointing earnings last week.
Insurer Allstate fell 10.2 per cent after a rise in payments for auto accidents dented second-quarter earnings, while handbag and accessories retailer Coach rose 3.2 per cent after reporting better-than-expected results.
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The 30-company gauge has lost 4.9 percent since reaching an all-time high in May. The Nasdaq Composite Index sank 0.3 percent, while the Russell 2000 Index lost 0.7 percent, and briefly erased its gain for the year.
