S&P 500 Index caps the biggest weekly plunge in 2013

Source: Dukascopy Bank SA
U.S. shares dropped on Friday, with the Standard & Poor's 500 Index snapping the biggest plunge on week this year, as U.S. employers added less than expected jobs in March. Payrolls advanced by 88,000 workers, less than one half of the number forecast by economists. The S&P 500 Index slipped 0.4% to 1,553.28. Only two out of ten groups edged higher, while oil and gas sector stayed almost unchanged. Losses in the group were capped by Nabors Industries, Wpx Energy Inc. and Cabot Oil & Gas Corporation that rose 5.9%, 5.2% and 5.1%, respectively. However, energy company profits decreased the most with a 6.3% slump, as oil is trading at $94.36 on average compared with a price of $103.03 in the first quarter last year. On the downside, F5 Networks Inc. retreated 19% to $73.21 for the biggest decline in the index after the data-management equipment maker posted preliminary earnings that defied forecasts. The company said its sales in telecommunications segment drooped in the second quarter ending on March 31 after North American sales slowed.

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