Stocks fell, the euro hit a two-year low against the dollar and oil slumped more than 3 percent on Friday after disappointing U.S. jobs growth reinforced worries the American economy was mired in a slow-growth rut. The U.S. Labor Department reported that employers created only 80,000 jobs in June, far fewer than needed to bring down the 8.2 percent unemployment rate and adding to evidence that Europe’s debt crisis was weighing on global growth. Although the jobs creation was weaker than expected, many investors said it was not bad enough to spur the Federal Reserve to launch a third round of quantitative easing. “This isn’t disappointing enough for QE3, but it suggests an extended period of sluggish growth and limited improvement on the jobs front,” said Eric Teal, who helps oversee $4.5 billion as chief investment officer at First Citizens Bancshares Inc in Raleigh.
