ML-Implode News - Stocks Tank on Jobs Data and Trade Worries

Wall Street is under pressure Friday, April 6, after the U.S. added less jobs than expected in March. The U.S. added 103,000 jobs in March. Analysts polled by FactSet expect the U.S. economy added 185,000 nonfarm jobs to the payroll in March, which would be a slowdown from the 313,000 jobs added in February. February's nonfarm payroll additions was the fastest in a month since July 2016.
The unemployment rate came in at 4.1%, steady from February's rate, a 17-year low. FactSet economists expect the U.S. unemployment rate for March to come in at 4%.
The Dow Jones Industrial Average was down 1%, or 242 points, to 24,263 while the S&P 500 fell 0.8% and the Nasdaq dropped 0.78%.
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Chief Operating Officer Sheryl Sandberg told Bloomberg that some advertisers have, in fact, reduced their spending. "We've seen a few advertisers pause with us and they're asking the same questions that other people are asking," Sandberg was reported as saying. "They want to make sure they can use the data and use it safely." Sandberg added that Action Alerts Plus holding Facebook is engaging in "reassuring conversations with advertisers, just as [it is] with people."

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Stocks Tank on Jobs Data and Trade Worries