NEW YORK -- Stocks slid in early trading Friday ahead of a confidence vote for Greece's embattled prime minister. A report on the U.S. job market was mixed.
The government said 80,000 jobs were created in the U.S. last month. That was a drop from the 158,000 jobs added in September. On the positive side, the unemployment rate fell to 9 percent from 9.1 percent, the first decline since July.
Traders were waiting for the results of a confidence vote in Prime Minister George Papandreou's government by the Greek parliament. Markets were stunned earlier this week after Papandreou called for a public vote on an unpopular package of austerity measures.
The measures are needed to prevent Greece from defaulting on its debt, which would throw the European financial system into turmoil. The vote was scrapped Thursday, but markets are still unnerved by the political drama there, which threatens to hobble Europe's efforts to control its debt crisis. Investors are worried that if Greece defaults it could cripple European banks and cause fiscal strain on much larger European countries like Italy, which are too big to bail out.
The Dow Jones industrial average was down 84 points, or 0.7 percent, to 11,958 as of 9:45 a.m. Eastern. The S&P 500 fell 10, or 0.8 percent, to 1,250. The Nasdaq composite shed 21, or 0.8 percent, to 2,676.
In U.S. corporate news, MF Global CEO Jon Corzine stepped down Friday. The securities firm filed for bankruptcy protection Monday after being brought down by bets on European debt.
Starbucks rose 5.5 percent after the company's quarterly results beat Wall Street's expectations. LinkedIn dropped 9 percent after posting its first quarterly loss since going public. Advanced Micro Devices Inc. sank 4 percent after the chip maker said it would cut 1,400 workers because of a weak market for computers and manufacturing delays.