US sharemarket falls as labour data signals economic turmoil

US stocks fell today to cap their first five-week losing streak since July 2004, as a dismal jobs report added to the drumbeat of investor concerns about a slowing economy.
The Dow Jones Industrial Average fell 97.29 points, or 0.8 per cent, to 12151.26, led lower by Alcoa, which dropped US28 cents (1.7 per cent) to $US15.92. The blue-chip index has dropped 5.1 per cent during its five-week losing skid and closed today at its lowest level since March 23.
Today's declines come after the DJIA had slumped 321 points in back-to-back sessions. The index registered its biggest three-day drop since March 16.
The Standard & Poor's 500 stock index shed 12.78 points (1 per cent) to 1300.16, in a broad sell-off led by the telecommunications, technology and consumer discretionary sectors. Nine of the 10 S&P 500's sectors finished in the red; energy was the only sector that closed in positive territory.