Business Update:Job worries rise

(01:51) Report

Jan 7 - Wall Street suffered its worst day in a month after two reports showed signs the recession is taking a bigger bite out of the labor market.

  • The Dow lost 245 points to 8,769.
  • The S&P 500 lost 28 points to 906.
  • The Nasdaq fell 53 points to 1,599.
  • Crude oil prices dropped nearly $6 to $42.63 a barrel.

    Conway Gittens reports from New York.

    Speaker: John Lonski, chief economist, Moody's Investor Service.

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