The Dow Jones industrial average dropped 155 points to 12,905 shortly before noon Monday. The Standard & Poor's 500 index was off 19 at 1,379, and the Nasdaq composite lost 38 points to 3,042.
The losses were broad. All 10 industry groups in the S&P 500 fell, led by financial stocks. Bank of America was off 3 percent, Citigroup 2.5 percent.
The U.S. added just 120,000 jobs in March, about half the pace from December through February. The slowdown interrupted the strongest stretch of job growth since the Great Recession. The government released its jobs report on Friday, but the stock market was closed for the Good Friday holiday.