Reuters
US Markets
US STOCKS-Wall St posts worst week of 2012 as job growth slows
Fri, May 04 16:50 PM EDT

* April payrolls miss forecasts * Energy shares tumble with crude oil prices * LinkedIn jumps on results, First Solar falls * Weekend European elections eyed * Dow off 1.3 pct, S&P off 1.6 pct, Nasdaq off 2.3 pct By Edward Krudy NEW YORK, May 4 (Reuters) - Wall Street ended its worst week this year with a sharp selloff on Friday after a slowdown in job creation in the world's top economy raised the biggest question mark yet about the prospects for U.S. growth. Employers reduced hiring for the third straight month, adding 115,000 workers in April, well below forecasts of 170,000. Traders' expectations had fallen during the week, but the softer jobs number missed even more pessimistic forecasts. Energy shares were the worst performers, with the S&P energy index down 2.2 percent on fears a worsening economy would sap demand. U.S. crude oil fell 4 percent, dropping below $100 a barrel for the first time since February. The sharp retreat this week was a blow to investors who had been hoping the S&P 500 would break out to new recovery highs.


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