U.S. Stocks Open Low on Wednesday; Big Tech Stocks Fall
Tiger Newspress2022-10-05
U.S. stocks fell on Wednesday, putting Wall Street on track to give back some of its sharp gains from the last two sessions.
The Dow Jones Industrial Average declined 332 points, or 1.1%. The S&P 500 and Nasdaq Composite dipped 1.1% and 1.3%, respectively.
Treasury yields rebounded Wednesday, weighing on stocks. The 10-year rate traded 10 basis points higher at 3.713% after briefly dipping below 3.6% in the previous session.
Payroll services firm ADP issued its jobs report, which showed the addition of 208,000 jobs in September, which is better than expected by Dow Jones estimates. Traders are still looking ahead to Friday's release of the nonfarm payrolls report.
Big tech stocks fall in morning trading.
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