Dow Jones tumbles 1.3% on jobs report

Dow Jones Industrial Average index fell on Friday as disappointing data from European and American labour markets fuelled fears that world wide economy might be on the track for another slowdown. Government report showed US added only 115 000 new jobs in April compared to estimated 173 000. Blue chop index plunged 1.27% or 168.32 points and closed at 13,038.27 with all nine sectors posting notable loss. Financials and IT shares led the decline with Bank of America dropping 3.3% and JP Morgan giving up 2.9%. Intel and Microsoft fell 2.3% and 2.5% respectively.