Stocks plunged Friday after July’s jobs report came in much weaker than expected, igniting fears of a recession and renewed calls for aggressive interest rate cuts in September. Only 114,000 new jobs were created in July and unemployment unexpectedly ticked up to 4.3% (vs 175,000 and 4.1% expected). The S&P 500 and the Dow are both in the red over 2% today, on pace for their worst week in months. Gold drifted lower too, after initially rising on the jobs data. Despite today’s pullback, gold is on pace for a 2% gain this week.