Wall Street Slumps Again

    A man walks by the New York Stock Exchange on June 23, 2011 in New York City. After falling over 200 points earlier in the day, stocks got a late reprieve with the Dow Jones industrial average down only 59 points, or 0.5% at the closing bell.

    Spencer Platt / Getty Images

    Despite an initial flurry of gains following a better-than-expected jobs report Wall Street remained in a slump on Friday after Thursday’s losses. The Dow Jones fluctuated, tumbling from a triple-digit gain at the opening bell on continuing fears of a double-dip recession in the U.S. and a bleak future for the euro zone. “There’s still a recovery but it’s teetering on the edge,” said Robin Marshall, a London investment manager. The jobs gain of 117,000, while stronger than expected, was not enough to put a serious dent in the unemployment rate, which still stands above 9 percent.

    Read it at The New York Times