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US stocks fall sharply on surge in oil, jobs data

US stocks fall sharply on surge in oil, jobs data

Wall Street has plunged, with the Dow Jones industrials closing down more than 400 points, after oil prices shot higher and neared $140 for the first time.
The prospect of higher energy prices that could hobble consumers and worsen a slowing economy had investors frenetically pulling money out of stocks.
Wall Street began the day falling on a disappointing unemployment report. The price of oil, which rose more than $11 and traded as high as $139.12, sent stocks lower throughout the session.
The Dow is down about 404 at athe 12,200 level