Midday Report: U.S. stocks drop as jobs data point to economic trouble

Date: Fri, 04 Jan 2008 17:06:11 (GMT)

U.S. stocks drop as jobs data point to economic trouble

NEW YORK
U.S. stocks on Friday sank after the government reported the jobless
rate jumped up to 5% in December, signaling broader troubles for the
economy.

Economic Report: Jobless rate jumps to 5% as payroll growth stalls

WASHINGTON
The nation's unemployment rate shot up to 5% in December as job growth
stalled, a sign that the labor market is stressed as the U.S. economic
slump spreads.

Huckabee, Obama win first-in-nation Iowa caucuses

WASHINGTON
Former Arkansas Gov. Mike Huckabee and Illinois Sen. Barack Obama won
upset victories in Iowa's Republican and Democratic caucuses on Thursday
night, sealing important wins in the first bout in the 2008 presidential
election.

Tokyo stocks plunge during first session of 2008

HONG KONG
Japanese shares started the first day of trading in the New Year by
plunging to a 17-month low in a shortened half-day session that export
saw stocks pressured by concerns over the stronger yen and fears of a
slowing U.S. economy.