The stock market opened lower this morning, and continued to deteriorate throughout the day. At the close of trading, the Dow Jones Industrial Average was lower by 212 points; the S&P 500 Index was off 35 points; and the NASDAQ, which lost about 3%, finished down 146 points. The vast majority of stocks suffered losses, as decliners outnumbered advancers by about 3 to 1 on the NYSE.
The U.S. Labor Department has reported mixed employment numbers for January. Specifically, the government intoned that the nation added 151,000 jobs last month; that was some 35,000 fewer than the consensus forecast of 186,000 new positions for the latest month. Meanwhile gains for November were revised from 252,000 to 280,000. However, the non-farm payroll increase for December was pared back from 292,000 to 262,000.
Many people are familiar with the consumer products offerings of 3M, such as Scotch tape and Post-it notes. But there is much more to the company than its consumer division, which is actually the smallest of five units (reorganized from six previously).