Stocks Started Sharply Off After Weak Jobs Data

U.S. stocks opened sharply lower on Monday as after last week’s much weaker-than-expected report on March U.S. job creation.The Dow Jones Industrial Average lately fell 154.01 points to 12,906.13. The S&P 500 shed 19.79 points to 1,378.29. The Nasdaq Composite declined 47.01 points to 3,033.49.

Sony Corp. will cut about 10,000 jobs worldwide over the next year as it tries to return to profit, Japanese news reports said Monday. The Nikkei business daily and other media said Sony’s decision to slash 6 percent of its work force comes as it struggles with weak TV sales and swelling losses.

Oil prices fell to near $102 a barrel Monday in Asia amid hopes international talks this week may help avoid military action over Iran’s nuclear program. Benchmark oil for May delivery was down $1.30 to $102.01 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange.

Ford Motor Co (F.N) is recalling 140,310 Focus cars from model year 2012 in the United States to repair a potential problem with the passenger-side windshield wiper motor, according to U.S. safety regulators.

Avon Products Inc (AVP.N) on Monday said it named Johnson & Johnson executive Sherilyn McCoy as its new CEO, ending a four-month outside search for a fresh face to lead the company and turn around sales at home and abroad.

AOL Inc (AOL.N) said it would sell over 800 of its patents and related applications to Microsoft Corp (MSFT.O), and would grant Microsoft a non-exclusive license to the patents it retains, for slightly over $1 billion in cash.