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S&P could drop to lowest week of 2012

A weak jobs report from the Bureau of Labor Statistics caused a significant drop in the Standard & Poor’s (S&P) 500 index this morning, putting it on a course to be the worst week for the index so far this year.

The S&P fell 2.3 percent at one point, with businesses such as Bank of America Corp. falling 2 percent, according to Bloomberg. 

The downturn today is the third day in a row that the index has slipped on Wall Street’s concerns that the economy is not coming back as strongly as was previously thought.

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