The Nasdaq Composite
fell on Wednesday for a third-straight losing session as investors shifted away from growth stocks amid signs that the U.S. economy is weakening.
The tech-heavy index sank 1.07% to 11,996.86, while the broad-based S&P 500
dipped 0.25% to 4,090.38. The Dow Jones Industrial Average
added 80.34 points, or 0.24%, to close at 33,482.72, bolstered by an outperformance by health-care stocks.
Wednesday’s moves came as traders mulled over the latest ADP private payrolls report, which showed slowing job growth in March. That followed Tuesday’s job openings report that suggested the Federal Reserve’s efforts to cool the labor market might finally be having an effect. In February, the number of available positions fell below 10 million for the first time in nearly two years.
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