S&P 500 Caps Worst Week in ’12 on Disappointing Jobs Data
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U.S. stocks declined a third day, giving the Standard & Poor’s 500 Index its worst week in 2012, after data showing employers added fewer jobs than forecast intensified concern about the pace of economic recovery.
Energy shares in the S&P 500 slumped 2.2 percent after oil fell below $100 a barrel for the first time since February. Chevron Corp., Bank of America Corp. and Intel Corp. dropped at least 2.1 percent. American International Group Inc., the bailed-out insurer, tumbled 3.8 percent as sales decreased at its largest units. The Nasdaq-100 Index slid 2.5 percent, the most since November, as Apple Inc. slipped 2.9 percent.