Stocks Fall Again After Hiring Slows
Published at
iStock/Thinkstock(NEW YORK) — Wednesday was another rough day on Wall Street as stocks finished lower after reports showed lower hiring at private companies in March.
The Dow Jones Industrial Average dropped 77.94 to 17,698.18. It had been trading down nearly 200 points earlier in the session.
The Nasdaq dipped to 4,880.23, down 20.66 on the day, while the S&P 500 slipped 8.2 to 2,059.69.
Payroll processor ADP reported that the number of Americans working in the private sector in March increased by 189,000. That figure, however, marks the first time in months that employment increased by fewer than 200,000 jobs.
Also on Wednesday, McDonald’s announced that it would increase the minimum wage for more than 90,000 employees around the country. Employees at company-owned restaurants — about 10 percent of the McDonald’s locations in the U.S. — will make $1 more than the locally-mandated minimum wage beginning in July.
Follow @ABCNewsRadio
Copyright © 2015, ABC Radio. All rights reserved.