GLOBAL MARKETS - U.S. jobs data knocks equities, boosts bonds

Fri, Nov 6 07:30 PM

Enlarge Photo Job seekers talk to recruiters at a job fair organized by the New Hampshire Employment... Slideshow: World in pictures: November 06

Worse-than-expected U.S. jobs data knocked European shares into negative territory and set Wall Street up for losses at the open on Friday.

The U.S. Labor Department said U.S. employers cut a more-than-expected 190,000 jobs in October, driving the unemployment rate to 10.2 percent, the highest in 26-1/2 years.

Analysts polled by Reuters had expected payrolls to drop by 175,000 and the jobless rate to edge up to 9.9 percent from 9.8 percent in September.

The dollar gained and yields on 10-year U.S. Treasuries fell as investors bought safety.

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