Unemployment numbers sees US stocks fall

A jump in unemployment sent stocks plunging today as investors feared Americans will not deviate from their tightened budgets.

The Labour Department's much-anticipated report showed employers cut 524,000 jobs in December, a smaller decline than the loss of 550,000 jobs economists forecast. But the unemployment rate jumped to a 16-year high of 7.2% - more than the 7% economists predicted - from 6.8% in November.