U.S. stock indexes fell on Friday after the U.S. government reported a sharp decline in jobs for last month.Posted on April 3, 2020
The losses were muted as oil rebounded for a second day, easing investors’ concerned about economic and job losses in the energy sector amid the coronavirus pandemic.
Dow Jones Industrial Average futures fell 88 points, implying an opening loss of about 79 points. S&P 500 and Nasdaq futures also traded lower.
U.S. payrolls fell by 701,000 in March, marking the worst jobs report since 2009, while the unemployment rate jumped to 4.4%. However, the report failed to capture the full extent of the economic blow being dealt by the coronavirus outbreak. On Thursday, the Labor Department said jobless claims jumped by a record of 6.6 million for the week of March 27.