Dow Jones Falls Most In 2 Weeks As US Stocks Slide On Job Market Worries
Muhammad Irfan 2 months ago Thu 05th August 2021 | 02:20 AM
NEW YORK (UrduPoint News / Sputnik - 05th August, 2021) Stocks on Wall Street fell broadly on Wednesday, with the Dow Jones Industrial Average losing its most in two weeks, after an underwhelming private sector jobs report for June heightened worries about what the government would cite later in the week for total employment for July.
The tech-heavy Nasdaq Composite was the only major US equity index that bucked Wednesday's decline. Nasdaq, which groups Big Tech Names such as Facebook, Amazon, Apple, Netflix and Google, finished up a modest 19 points, or 0.
1 percent, at 14,781.
"The deterioration to the short-term outlook was somewhat overdone given the ADP report has not been a consistent indicator of how well the private sector performs in the non-farm payroll report," Ed Moya, analyst at New York brokerage form OANDA, said.