Stock market plunges after better-than-expected December jobs report
The Labor Department reported Friday that 265,000 jobs were added to the U.S. economy in December, which was roughly 100,000 more than expected. The unemployment rate also fell to 4.1%. CBS News contributor Javier David explains why investors see the better-than-expected jobs report as a bad thing.
The Dow Jones Industrial Average ( ^DJI) sank about 1.6%, or close to 700 points, while the S&P 500 ( ^GSPC) also fell 1.5%.
Global stocks fell while U.S. Treasury yields rose on Friday after a stronger-than-expected jobs data reinforced expectations ...
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Wayfair, an early e-commerce disruptor, wants to focus more on physical retail and has decided to exit the German market and cut 730 jobs as a result.
U.S. stocks are recoiling on worries that good news on the job market may be too good and prove to be bad for Wall Street by keeping inflation and interest rates high ...
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