Summary Box: Stocks slide to 4-month lows after jobs report, worries about Europe pound stocks

Summary Box: Disappointing jobs report hits stocks

ANOTHER SLIDE: The Dow Jones industrials fell 323 points Friday to the lowest level in four months on disappointment over the government’s May jobs report and concerns about Europe’s debt crisis.

CORRECTION JUNCTION: Major indexes all lost more than 3 percent. The drop pushed the market back into “correction” mode, meaning a drop of at least 10 percent from a recent high.

ECONOMIC CONCERNS: Private employers hired 41,000 workers in May, down from 218,000 in April. Meanwhile, the new government of Hungary said the country is facing a “grave” situation with its finances.