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The Dow Jones industrial average sank Friday after a report showed employment growth and gloomy federal government takes legal action against banks like Bank of America and Goldman Sachs, the New York Times.

The Dow Jones fell 253.31 points to close at 11,240.26, up 2.2 percent of the final on Thursday. Nasdaq lost 73 points to 2473 and the S & P 500 fell 32 points to 1172.

"The increased volatility has led companies to question the sustainability of the recovery," Fannie Mae chief economist Doug Duncan told the Los Angeles Times. "More companies are likely to be on the fence with regard to future employment This increases the chances of direct job losses in the coming months and put the odds of a recession in the coming years by many. "

The Los Angeles Times reports that employers are limiting their recruitment and reduce employee hours. Private sector employees worked an average of 34.2 hours per week, according to the report of the use of the Ministry of Labour, while the average hourly wage was $ 23.09.

The government paid 17 000 jobs, mainly in education, according to the Los Angeles Times. Manufacturing experienced negative earnings in August 3000, as opposed to the 36,000 jobs created in July.

However, the unemployment rate remained at 9.1 percent neutral, because the part-time job growth, which many say is the only work available.

While the lack of employment growth investors dismayed Friday, the ongoing trial by the Federal Housing Finance Agency of the major banks like Bank of America and Chase for the loss of Freddie Mac and Fannie Mae sent shares of the bank to low, according to the Wall Street Journal.

The Dow Jones Industrial Average jumped 254 points on Monday. Has led to a wave of insurers after the tropical storm Irene has caused much less damage to many initially feared, the AP.

However, many traders find it difficult to get to work in Lower Manhattan still on vacation or the volume of trade - the number of shares purchased and sold - was the lowest since July 26.

Analysts lowered estimates of the amount of damage Irene would mean that insurance stocks soaring. According to AP Allstate Corp. rose 8.5 percent, increased by Hartford Financial Services Group Inc. 13 percent, and Travelers Cos. Inc. rose 5.1 percent

Kim Forrest Caughey, equity research analyst at Fort Pitt Capital Group, told AP, "The United States have more or less untouched by the hurricanes. The cleaning will not cost as much as expected. "

On Thursday, said Kinetic Analysis Corp., a consulting firm, the damage from the storm expected to reach $ 20 billion. By late afternoon Sunday, lowered the $ 7 billion, as the storm weakened.

Of the $ 7 billion insurance would probably cover up to $ 3 billion, which is less than $ 6 billion the industry paid after Hurricane Isabel hit the region in 2003.