A down week for Wall Street

Associated Press

September 6, 2008

NEW YORK - Wall Street wrestled with intensifying economic worries yesterday, extending sharp losses after a disheartening jobs report and then grudgingly engaging in some mild bargain hunting that gave the market some modest gains.

The major indexes ended the week with big declines, a sign that investors, who not long ago expected the economy to improve, are now growing increasingly discouraged.

Stocks initially fell after the Labor Department reported that payrolls shrank more than predicted last month and that the unemployment rate reached a five-year high. But stocks that had been pounded lower, including a huge drop Thursday, were suddenly more attractive to investors willing to make some bets.