Stock futures tumble after employment data

06 November 2009 @ 08:40 am EDT

U.S. stock index futures fell on Friday after data showed U.S. non-farm employers cut 190,000 workers from their payrolls in October and the unemployment rate hit 10.2 percent, the highest in more than 26 years.

S&P 500 futures fell 6.1 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures fell 52 points and Nasdaq 100 futures lost 8 points.

(Editing by Jeffrey Benkoe)

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