US stocks today: Dow tumbles 900 points, S&P 500 and Nasdaq slide 1.6% as oil crosses $90; weak jobs data raise stagflation fears
US stocks fell sharply on Friday as surging oil prices and disappointing economic data fuelled concerns about a potential stagflation scenario, where slowing growth combines with rising inflation.The S&P 500 dropped 1.6%, while the Dow Jones Industrial Average fell 909 points, or 1.9%, to 48,338.36 as of 9:35 am Eastern Time, AP reported. The Nasdaq…