Global stocks pare losses after U.S. jobs report, oil up again

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Global stock markets were down Friday after the U.S. government said employers cut 701,000 jobs in March as they shut down or sharply curtailed business due to the coronavirus outbreak.

European markets were lower after losses in most of Asia. Futures for the Dow Jones Industrial Average were down 77 points shortly after the report was released, compared with a decline of 100 points around 8:30 a.m.

In Asia, the Shanghai Composite Index lost 0.6% to 2,763.99 and Tokyo's Nikkei 225 gained 1.5 points to 17,820.19. The Hang Seng in Hong Kong lost 0.2% to 23,236.11 after falling as much as 0.8% earlier. Benchmark U.S. crude added $3.04 to $28.36 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, used to price international oils, gained $4.92 to $34.86 per barrel in London.

 

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