US STOCKS-Wall St stumbles as jobs data puts rate hike in doubt
* Sept nonfarm payrolls up by 142,000 vs 203,000 expected
* Unemployment rate unchanged at 5.1 pct
* Banks fall as chance of rate hike this year recedes
* Indexes down: Dow 1.26 pct, S&P 1.24 pct, Nasdaq 1.18 pct (Adds details, changes quote, updates prices)
By Tanya Agrawal
Oct 2 (Reuters) - U.S. stocks dropped sharply on Friday after jobs data for September fell far short of expectations, raising doubts that the economy is robust enough to absorb an interest rate hike.
The three major indexes were down more than 1 percent.
Nonfarm payrolls rose by 142,000, below the 203,000 that economists had expected, and August figures were revised sharply lower. The jobless rate held steady at 5.1 percent but average hourly wages fell by a cent from August.
This is the last payrolls data before the Fed meets later this month. Continuación...