Stocks Take Payralls Plunge

U.S. stocks closed down about 1% on Monday as nvestors reacted to the government’s March jobs report. The Dow Jones Industrial Average fell 130.55 points, or 1.00%, to 12,929.59. The S&P 500 lost 15.88 points, or 1.14%, to 1,382.20. The Nasdaq Composite lost 33.42 points, or 1.08%, to 3,047.08.

Crude-oil futures ended at a seven-week low Monday, hit by a disappointing report on U.S. employment late last week and ahead of international talks over Iran’s nuclear program. Crude-oil futures for May delivery fell 85 cents, or 0.8%, to $102.46 a barrel on the New York Mercantile Exchange.

Gold futures ended higher Monday, catching some safe-haven flows. Gold for June delivery rose $13.80, or 0.9%, to end at $1,643.90 per ounce on the Comex division of the New York Mercantile Exchange.

Carl Icahn sued Amylin Pharmaceuticals Inc to block enforcement of a bylaw that prevents the billionaire investor from launching a proxy fight that could lead to a sale of the maker of diabetes drugs.

Facebook Inc. said Monday that it will buy Instagram, the maker of a popular photo-sharing mobile app and service, for about $1 billion in cash and stock, in a deal that underscores how quickly the demand for sharing via social networks continues to grow.






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