US STOCKS-Futures dive on bleak August jobs data
ReutersNEW YORK (Reuters) - U.S. stock futures sharplyextended losses Friday as a government report showed theU.S. economy shed 84,000 jobs in August, significantly morethan economists had expected, and the unemployment rate climbedto a 4-1/2-year high.
The report added to concern about the impact of the housingslump on the economy and the corporate profit outlook.
S&P 500 futures slid 14.10 points and were belowfair value, a formula that evaluates pricing by taking intoaccount interest rates, dividends and time to expiration on thecontract. Dow Jones industrial average futures tumbled112 points and Nasdaq 100 futures dropped 22.75 points.
The drop in stock index futures raised the prospect thatWall Street might edge closer to retesting the broader market'sJuly 15 low following Thursday's sharp decline. (Reporting by Ellis Mnyandu, Editing by Kenneth Barry)