Stocks plunged Friday after a U.S. government report showed employers added fewer jobs than expected last month and the euro currency plummeted to a new four-year low, reviving concerns about the health of the European economy. The euro fell to the new low after European Union (EU) member Hungary warned about its ballooning debt. Hungary does not use the euro, but its problems affect the 16-country shared currency zone on worries that a broad European debt crisis is developing. Previously, the focus was mostly on Greece, Portugal, Spain, Italy, and Ireland. In U.S. economic news, employers added 431,000 jobs in May, the biggest gain in more than 10 years and an improvement from the 290,000 created the previous month. However, economists expected at least 500,000 jobs, and most of May's jobs were short-term national census positions, meaning private-sector job creation was extremely weak. --MORE
