US markets stumble Friday

Stock indexes dropped sharply in New York Friday following markets in Asia and Europe lower despite efforts from three central banks. On Thursday, the European Central Bank in Germany and the People's Bank of China both lowered lending rates. The Bank of England expanded an asset-purchasing program from $500 billion to $580 billion. With economic data mixed in the week, the Labor Department said Friday that 80,000 jobs were added to the economy in June, about 10,000 fewer than economists had expected. In early afternoon trading on Wall Street, the Dow Jones industrial average lost 150.58 points, 1.17 percent, to 12,746.09.The S&P 500 shed 14.69 points, or 1.07 percent, to 1,352.89. The Nasdaq composite index lost 44.59 points, 1.5 percent, to 2,931.53. The 10-year benchmark treasury note rose 15/32 to yield 1.55 percent. The euro fell to $1.2285 from Thursday's $1.2392. Against the yen, the dollar fell to 79.66 yen from 79.92 yen. In Tokyo, the Nikkei 225 index gave up 0.65 percent, 59.05 points, to 9,020.75. In London, the FTSE 100 index shed 0.53 percent, 30 points, to 5,662.63.