U.S. Department of Labor and Nasdaq Composite Index

Dow Jones Industrial Average: The S&P 500 shed 35.43 points, or 1.85 percent, to 1,880.02, according to Xinhua China. The Nasdaq Composite Index slumped 146.42 points, or 3.25 percent, to 4,363.14. The Dow Jones Industrial Average dropped 211.75 points, or 1.29 percent, to 16,204.83. The U.S. Department of Labor reported Friday that total nonfarm payroll employment rose by 151,000 in January, well below market expectation of 188,000. In January, average hourly earnings for all employees on private nonfarm payrolls increased by 12 cents to 25.39 U.S. dollars, beating market estimates. The unemployment rate, however, edged down to 4.9 percent in January, dipping below 5 percent for the first time since 2008. (news.financializer.com). As reported in the news.