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Stocks close lower following weak jobs report

Friday - 4/5/2013, 4:57pm  ET

In this Thursday, April 4, 2013, photo, trader Anthony Riccio, left, and specialist Peter Giacchi work on the floor of the New York Stock Exchange. Stocks dropped sharply on Wall Street, Friday, April 5, 2013, after the government reported that U.S. employers added the fewest jobs in nine months in March and more people gave up looking for work. The report was worse than economists were expecting. (AP Photo/Richard Drew)

NEW YORK (AP) -- Stocks are closing lower on Wall Street after the U.S. government reported a sharp slowdown in hiring last month.

The Labor Department said hiring was the weakest in nine months.

The Dow Jones industrial average ended down 40 points at 14,565, a loss of 0.3 percent. It had been down as much as 171 points in the early going. The Dow ended flat for the week.

The Standard & Poor's 500 fell six points, or 0.4 percent, to 1,553. The Nasdaq fell 21 points, or 0.7 percent, to 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. Volume was thinner than average at 3.4 billion shares.


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