Stock futures plunge after jobs data

on October 02 2009 8:40 AM

U.S. stock index futures fell further on Friday after government data showed more jobs than expected were lost in September.

S&P 500 futures plunged 11.5 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 dropped 99 points and Nasdaq 100 futures lost 13.75 points.

(Editing by Padraic Cassidy)

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