Stocks down in selloff on weak hiring

Traders work in a booth on the floor

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Traders work in a booth on the floor of the New York Stock Exchange Tuesday. The Dow Jones industrial average dropped 120 points to 12,780 shortly after the opening bell Friday. (July 3, 2012) (Credit: AP )

Investors sold stocks Friday after the U.S. government reported that only 80,000 jobs were created in June, the third straight month of weak hiring.

The Dow Jones industrial average fell 124.20 points to close at 12,772.47. The loss wiped out the Dow's gain for the week.

The reluctance of U.S. employers to add jobs shows that the economy is still struggling three years after the recession...

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