U.S. stocks fall amid inflation concerns

U.S. stocks ended lower Friday amid concerns about inflation as U.S. unemployment rate hit a four- year low.

The drop of the jobless data has reinforced traders' concerns about inflation. The Labor Department said Friday that American employers added 211,000 workers in March. The jobless rate dropped to 4.7 percent from 4.8 percent the previous month, hitting a four- year low, capping the best start for hiring of any year since 2000.

U.S. construction companies added 7,000 jobs in March and retailers expanded employment by 29,000 positions. Financial companies also increased 16,000 jobs last month while education and health care boosted payrolls by 33,000.

World crude oil prices fall Friday but still hovered above 67 dollars after hitting 68 dollars Thursday amid worries of supply in Iran and Nigeria, as U.S. gasoline inventories fell sharply.

At the closing time, the Dow Jones Industrial Average was down 96.46 points, or 0.86 percent, at 11,120.04. The Standard & Poor's 500 Index was down 13.54 points, or 1.03 percent, at 1,295.50. The Nasdaq Composite Index was down 22.15 points, or 0.94 percent, at 2,339.02.

Source: Xinhua