North American stock markets fell Friday as weak U.S. jobs data added to concerns about global growth.

The TSX/S&P composite index closed down 157.26 points at 11,659.65, after the U.S. Labour Department reported that the American economy only managed to crank out 80,000 jobs last month, below already modest expectations for 90,000 positions.

Canada added 7,300 jobs, slightly better than modest expectations.

The Canadian dollar closed at 98.17 cents US, down 0.41 of a cent from Thursday's close.

The Dow Jones industrials dropped 124.20 points to 12,772.47 The Nasdaq composite index lost 38.79 points to 2,937.33 and the S&P 500 index was off 12.90 points at 1,354.68.

Adding to concerns was a warning by International Monetary Fund Managing Director Christine Lagarde Friday that the fund will cut its forecast for global economic growth in a quarterly assessment to be released later this month. She did not say which nations or regions were contributing to the lowered assessment for 2012 and declined to give more details.

The August crude contract fell $2.77 to $84.45 US a barrel. Oil is down 14 per cent this year.

September copper fell eight cents to $3.42 US a pound and August bullion fell $30.50 to $1,578.90 US.

European markets also fell, with London's FTSE 100 index closing down 0.53 per cent near the end of trading, Frankfurt's DAX lower by 1.92 per cent and the Paris CAC 40 off 1.88 per cent. The euro fell by 0.77 per cent to 1.2295 US.

With files from The Canadian Press