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Nasdaq sinks more than 2.5%, leads market lower

Published on Apr 5, 2014 4:37 AM

NEW YORK (AFP) - The Nasdaq Composite Index tumbled more than 2.5 per cent Friday, as investors overlooked a solid US jobs report to sell off prominent names from across the tech sector.

At the closing bell, the Nasdaq sank 110.01 points (2.60 per cent) to 4,127.73.

The Dow Jones Industrial Average fell 154.51 (0.93 per cent) to 16,418.04, while the broad-based S&P 500 lost 23.43 (1.24 per cent) at 1,865.34.

The Department of Labor reported the US economy added 192,000 jobs in March, essentially meeting expectations and suggesting a continuation of the trend of slow but steady improvement in the labor market.

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