US stocks fall as optimism about jobs report fades

Stocks are falling again on more fears of economic weakness in the U.S. and Europe’s debt crisis.

European leaders are calling emergency meetings and seeking to contain spreading fears that a large nation such as Italy or Spain might default on its debt.

A government report that hiring improved in July sent stocks sharply higher just after the market opened. The rally lasted less than a half-hour.

A half-hour after trading stared the Dow Jones industrial average is down or 42 points, or 0.4 percent, at 11,341. The S&P 500 is down 9 points, or 0.8 percent, at 1,190. The Nasdaq composite is down 37, or 1.5 percent, at 2,520

The Dow fell 513 points on Thursday in the worst sell-off since 2008.