Leading the measure's decliners, Walt Disney dropped 2.1%. Disney's drop came after the entertainment giant said it bought the maker of the popular Tap Tap Revenge game for Apple mobile devices like the iPhone.
Industrial components weakened following the drop in factory orders. Caterpillar dropped 1.6%, 3M slid 1.1% and Boeing fell 1%.
The Nasdaq Composite slipped 0.8% to 2084. The Standard & Poor's 500-stock index shed 0.9% to 1018, on track to slide nearly 5.3% this week. On Friday, the measures was weighed by its consumer-discretionary sector, as investors worried about how the drop in nonfarm payrolls might weigh on consumer and business spending. International Game Technology slid 4.1%, Wynn Resorts fell 2.8% and Sears Holdings dropped 2.8%.
Investors largely viewed the government's monthly jobs data as a signal of continued weakness in the labor market, even though the jobless rate edged down to 9.5% in June from 9.7% the previous month, better than the increase to 9.8% economists were expecting. However, investors noted that much of the decline could be attributed to workers ceasing their search for a job as the civilian labor force participation rate fell 0.3 percentage point to 64.7%.
For more: US Stocks Drop, Weighed By Weak Jobs, Factory Data - WSJ.com
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