Business

Jobs report weighs on US stocks

NYSE trader Image copyright Getty Images

US markets lost ground on Thursday, amid continuing tension on the Korean peninsula and weaker-than-expected US jobs data.

US employers added 158,000 jobs, according to payrolls processor ADP, below the more than 180,000 analysts had predicted.

The tech-heavy Nasdaq fell 1% or 61.4 points to 6,089.46.

The Dow Jones dropped 0.7% to 21,320.304, while the S&P 500 fell 0.9% to 2,409.75.

General Electric shares showed some of the greatest losses.

The firm's stock fell 3.8% after European regulators said the firm had provided misleading information while seeking approval of the acquisition of a Danish firm earlier this year.

The charges could lead to fines.

Thursday's losses follow months in which US stocks have by and large been heading higher.

Analysts attribute the climb to a mix of strong corporate earnings and optimism about the chances for business-friendly policies under the Donald Trump administration.

Thursday's declines do little to alter that general trend but suggest uncertainty about where the economy is heading.

The ADP National Employment Report added to the unease. The report offers a preview of official job creation figures, which are scheduled for release on Friday.