A weak jobs report has the Dow Jones Industrial Average reeling with almost a full percent-point drop, about 125 points, to under 12,600. Industrials such as Alcoa (NYSE: AA), Caterpillar (NYSE: CAT) and DuPont (NYSE: DD) were all down about 2% in early trading.

Up over 4% for the week, Alcoa was down about 2% on Friday to around $16.15. Alcoa is more than 63% above its year low. With a beta of 2.07, Alcoa is more than twice as volatile as the market. It is trading above its 20-, 50- and 200-day moving averages.

Caterpillar was up strong yesterday but was down about $2, around a 1.75% drop, to under $110 per share in early trading Friday. With a beta of 1.71, Caterpillar is a volatile stock, too. The relative strength index for Caterpillar is almost 62, with 70 the benchmark for a stock to be considered overbought.

DuPont is down about a $1 in early trading to under $55, a drop of more than 1.5%. The beta for DuPont is 1.40 and its relative strength index is 62.70. It is trading above its 20-, 50- and 200-day moving averages.

Financials also were taking the Dow lower. Bank of America (NYSE: BAC) and JP Morgan (NYSE: JPM) were down by more than 1.6% in the morning session. Both Bank of America and JP Morgan are trading below their 50- and 200-day moving averages. The Financial Times on Friday discussed how well European banks will fare under more stringent stress tests. The financial sector is the poorest performing one in the market this year.

The only Dow stock up in early trading was Merck (NYSE: MRK) with a 13-cent gain, about 0.37%, to take it close to $35.90. Merck is up about 1.6% for the past five days of trading. The stock is now just under 4% beneath its high for the past year. The relative strength index is about 56, and it is trading above its 20-, 50- and 200-day moving averages.