NEW YORK — Stocks have tumbled after the government said hiring remains weak and Hungary became the latest European country to report its economy is in crisis.
NEW YORK — Stocks have tumbled after the government said hiring remains weak and Hungary became the latest European country to report its economy is in crisis. The Dow Jones industrials are down 324 points Friday at 9,931. The Labor Department says private employers added 41,000 jobs in May, down dramatically from 218,000 in April. Meanwhile, a spokesman for Hungary’s prime minister described the country’s economy as being in a "grave" situation. That is hitting the euro. The Standard & Poor’s 500 index is down 38 at 1,065, while the Nasdaq composite index is down 84 at 2,219. Only about 300 of the nearly 3,000 stocks that trade on the New York Stock Exchange rose. Volume came to 1.6 billion shares compared with 1.2 billion Thursday. Copyright 2010 The Associated Press.
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