US stocks, dollar slide after weak jobs report

A slide in financial and consumer stocks led U.S. indexes lower in late morning trading Friday as investors weighed the implications of a key government report showing that hiring slowed sharply in May. The downbeat job survey was a sign of economic weakness that could dissuade the Federal Reserve from raising interest rates this month. The dollar fell sharply against most major currencies, while bond prices surged as investors sought safety in U.S. government-backed debt.