The Dow Jones industrial average lost 159 points, or 1.23%, to 12,737. The Standard & Poor's 500 Index dropped 15 points, or 1.12%, to 1,352. The Nasdaq Composite Index fell 41 points, or 1.39%, to 2,934.
US nonfarm payrolls came in below consensus for the fourth month in a row. The US added 80,000 new jobs in June, below the 90,000 forecasted, while the unemployment rate steadied at 8.2%. However, the jobs data was probably not weak enough to lead to a significant shift in the odds for further Fed policy easing.
Gold dropped 1.2% to $1,590 an ounce, while crude-oil futures extended losses after the NFP report, falling more than 3% to $84.55 a barrel.