Stocks Tumbled at Open after Jobs Report

U.S. stocks opened solidly lower on Friday after the employment report showed the weakest job creation in 17 months, underlining fears of slowing global growth hitting U.S. shores. The Dow Jones Industrial Average lately fell 170.65 points, or 0.67%, to 25,302.58. The S&P 500 was down 20.14 points, or 0.73%, to 2,728.79. The Nasdaq Composite declined 55.24 points, or 0.74%, to 7,366.22.

Oil futures fell Friday after a round of downbeat trade data from China reinforced worries about global economic growth and demand for fuel. West Texas Intermediate crude for April delivery fell $1.42, or 2.5%, to $55.24 a barrel, while May Brent crude was off $1.52, or 2.3%, to $64.78 a barrel.

American businesses and other employers created the fewest new jobs in February in 17 months, the latest sign of a broader slowdown in the U.S. economy. The economy added just 20,000 new jobs last month, the smallest gain since September 2017, the government said Friday.