European Stocks Extend Losses After Payrolls

1253 GMT [Dow Jones] Euro Stoxx 50 is down 3.4% at 2226.60, pushing further south after key US nonfarm payrolls and unemployment data come in worse than expected. NFP for August come in unchanged, the worst result since a small decline in September 2010 . The unemployment rate, which is obtained from a separate survey, is also unchanged, standing at 9.1%. Banks are some of the leading decliners, with the Stoxx 600 index, losing 4.1% on fears of stagnating economic growth. US futures are indicating a softer opening on Wall Street . The front-month DJIA contract is down 1.5%; the S&P 500 contract is 1.7% lower. No further data are due.