NEW YORK — U.S. and global stock indexes moved lower a second day Wednesday following a dismal report on job creation that gave investors concern over the state of the economy. The data followed a round of economic news out of China and Europe a day earlier that also suggested sluggish growth.
The Dow Jones industrial average lost 99.65 points, or 0.6 percent, to 17,651.26. The Standard & Poor’s 500 index lost 12.25 points, or 0.6 percent, to 2,051.12 and the Nasdaq composite fell 37.58 points, or 0.8 percent, to 4,725.64.
Stocks started lower and remained there throughout the day, following a survey by payroll processor ADP which showed U.S. firms hired workers at the slowest pace in three years last month.
ADP said private companies hired 156,000 workers in April, down from 194,000 in March. The figure was significantly worse than expected. The weak reading bodes poorly for the broader job market survey due out Friday from the Labor Department, which is one of the most closely watched reports on the economic calendar. Economists expect the government to report that U.S. employers created 200,000 jobs last month and that the unemployment rate held steady at 5 percent.
Other economic indicators out of Europe were disappointing Wednesday. Retail sales fell 0.5 percent during March from the previous month. Investors had expected a more modest decline of 0.1 percent.
