U.S. stocks slump after jobs data disappoint, chipmaker issues profit warning

U.S. stocks slumped at the open on Friday as investors digested another report showing the U.S. labor market is finally starting to deteriorate — and also a profit warning from a top microchip maker. The S&P 500 SPX, -2.04% slumped 43 points, or 1.2%, to 3,700. The Dow Jones Industrial Average DJIA, -1.51% fell 268 points, or 0.9%, to 29,658. The Nasdaq Composite COMP, -2.94% shed 191 points, or 1.7%, to 10,882.