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Stocks were modestly lower after news the jobs picture hasn't improved as many investors had thought given several positive economic reports in recent weeks, including news Friday that the services sector continued to grow in November.
The Dow Jones Industrial Average fell more than 20 points, after rising nearly 1 percent in yesterday's session after a string of upbeat economic reports.
JPMorgan , American Express and AT&T fell, while DuPontand Alcoa rose.
The S&P 500 and the Nasdaq were down slightly. The CBOE Volatility Index, widely considered the best gauge of fear in the market, fell to nearly 18.
Among key S&P 500 sectors, financials, telecom and consumer discretionary fell, while materials and energy rose.
The dollar , meanwhile,fell more than 1 percent against a basket of currencies, a move that typically lends support to stocks. Gold meanwhile, soared above $1,400 an ounceas investors flocked to the safety of precious metals.
The jobs reporttook the wind out of the early December rally, which saw the market nearly return to November's highs in two days of trading.
"This is kind of a blow as we head into the end of the year, definitely," Dan Cook, chief executive of IG Markets told CNBC.com. "We’re not even staying above water at this point."
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