By Edward Krudy

NEW YORK (Reuters) – Wall Street ended its worst week this year with a sharp selloff on Friday after a slowdown in job creation in the world’s top economy raised the biggest question mark yet about the prospects for U.S. growth.

Employers reduced hiring for the third straight month, adding 115,000 workers in April, well below forecasts of 170,000. Traders’ expectations had fallen during the week, but the softer jobs number missed even more pessimistic forecasts.

Energy shares were the worst performers, with the S&P energy index (REU:^GSPEI) down 2.2 percent on fears a worsening economy would sap demand. U.S. crude oil fell 4 percent, dropping below $100 a barrel for the first time since February. (O/R)

The sharp retreat this week was a blow to investors who had been hoping the S&P 500 would break out to new recovery highs. The index is now moving away from strong resistance at the 1,400 level after failing to make a convincing move above it.

“When we entered the second quarter, we thought it would be a consolidation/correction quarter for the market simply because it was overbought, over-believed, and we saw economies were not improving, and that is still the case,” said Bruce Bittles, chief investment strategist of Robert W. Baird & Co in Nashville.

For the week, the S&P 500 lost 2.4 percent, its worst weekly performance since December.

Investors were also cautious ahead of elections in France and Greece over the weekend as European policymakers struggle to bring an end to their debt crisis and people rebel against the strain of austerity measures.

The utility sector index (.GSPU), considered a defensive play, was the only S&P 500 sector in positive territory, up 0.2 percent. Shares of CenterPoint Energy (CNP.N) led, up 1.7 percent at $20.05.

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