What a Week: Stocks Scalded by Oil as Jobs Growth Flops

Ouch. What else is there to say for everyone but holders of S&P 500 put options and 10-year Treasury notes?

After Friday's jobs report came in lower than anyone had projected, with the economy adding just 32,000 jobs in July, the stock markets took all day to finally hit bottom. And oh what a bottom it was.

The Nasdaq tumbled 2.5% Friday, ending the week down 5.9% at 1776.89, and about where it hit bottom last fall. In percentage terms, it was the second-biggest loss of the year topped only by the 2.52% drop of Feb. 4. ...