Weak Jobs Report Sends Stocks Lower

NEW YORK (April 5, 2013)--Stocks closed lower Friday on Wall Street after the U.S. government reported a sharp slowdown in hiring last month.

Hiring was the weakest in nine months, the Labor Department said.

The Dow Jones industrial average ended down 40 points to close at 14,565, a loss of 0.3 percent.

It was down as much as 171 points in the early going.

The Dow ends flat for the week.

The Standard & Poor's 500 fell six points, or 0.4 percent, to close at 1,553.

The Nasdaq fell 21 points, or 0.7 percent, to end the day at 3,203.

The S&P had it worst week this year, and the Dow Jones Transportation Average had its worst week since September.

Slightly more stocks fell than rose on the New York Stock Exchange, where volume was thinner than average at 3.4 billion shares.

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