Stocks turn lower as optimism about jobs fades

A stronger jobs report wasn't enough to quiet financial markets or stem concerns that the debt crisis in Europe can threaten the fragile U.S. economy the Dow Jones industrial average was losing nearly 130 points in midday trading Friday.

Investors are increasingly concerned regarding the economy in the U.S. and abroad. Among the issues: The building financial crisis in Europe, hiring in the U.S. that is too measured to significantly lower the unemployment rate; anemic enlargement in manufacturing, the service sector and a decline in consumer spending; and the belief with the aim of the government has might not do more to stimulate the economy.

European leaders contain interrupted their summer vacations for emergency meetings. They are trying to craft a plan that would avoid Italy or Spain from becoming the latest countries in the region to require large-scale financial help the two countries contain Europe's third and fourth largest economies. But European leaders and central banker’s strength not have the cash needed to prop them up until a larger financial rescue support can be established by a broader group of financial leaders.

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