Stocks Extend Losses

NEW YORK (TheStreet) -- U.S. stocks deepened their losses in the final half hour of trading Monday as May's disappointing jobs report last week continued to cloud investors' optimism regarding the recovery.

The Dow Jones Industrial Average lost 116 points, or 1.2%, at 9,817, extending losses from the previous session when the Dow lost 323 points. The S&P 500 shed 14 points, or 1.4%, at 1051, and the Nasdaq fell by 45 points, or 2%, at 2174.

Global stock markets wobbled early Monday as investors felt renewed jitters about Europe and continued to absorb last week's downbeat jobs report from the Labor Department. On Friday, the markets began turning their focus to Hungary after officials there began comparing their economic woes to Greece, though they have since pulled back from the statements. The country's economic minister also made clear the country's commitment to meeting its 2010 budget deficit goal of 3.8% of gross domestic product, The Associated Press reported.

Factory orders in Germany also rose in April for the second month in the row, according to a report from Bloomberg.

The euro pared some losses Monday after falling to a four-year low under the $1.19 mark earlier in the morning, according to Reuters.

Overseas, Hong Kong's Hang Seng fell 2% and Japan's Nikkei declined 3.8%. The FTSE in London shed 1.1%, and the DAX in Frankfurt dropped 0.6%.

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