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BRENDAN MCDERMID/Brendan McDermid/Reuters

North American stocks fell hard on Monday morning, as investors reacted to Friday's disappointing payrolls report from the U.S. Labor Department, which reignited concerns about the economic recovery.

The Dow Jones industrial average fell 142 points or 1.1 per cent, to 12,918. The broader S&P 500 fell 17 points or 1.2 per cent, to 1,381. In Canada, the S&P/TSX composite index fell 73 points or 0.6 per cent.

The declines were broad, affecting all 30 names within the blue-chip Dow. Bank of America Corp. fell 3 per cent, JPMorgan Chase & Co. fell 2.2 per cent and Caterpillar Inc. fell 2.5 per cent.

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In Canada, Royal Bank of Canada fell 0.8 per cent and Suncor Energy Inc. fell 1.1 per cent. Gold producers showed some strength, though, with Barrick Gold Corp. up 1.4 per cent.

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About the Author
Investing Reporter

David Berman has been writing about business and investing since 1995. He has written for a number of magazines, including Canadian Business and MoneySense. He worked at the Financial Post as an investing writer and daily columnist before moving to the Globe and Mail in 2008. More

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