U.S. stock futures are plunging after a key report showed that the government added no net jobs last month and the unemployment rate was unchanged at 9.1 percent.
The report was the weakest in almost a year. It reflects lingering fears that the economy risks slipping back into recession.
A strike by 45,000 Verizon workers lowered the job totals. Those workers are back on the job. Private employers added 17,000 jobs. Without the Verizon strike the total would have been 62,000.
At 8:40 a.m. EST, S&P 500 futures are down 17 points, or 1.4 percent, at 1,184. Dow futures are down 139, or 1.2, at 11,326. Nasdaq 100 futures are down 29, or 1.3, at 2,188.
Global markets sank before the report, and remained down.