NEW YORK (Pakistan Point News / Sputnik - 04th March, 2021) US stocks fell for a second day in a row on Wednesday, with tech stocks barometer Nasdaq Composite leading with a 3 percent drop after disappointing growth in private sector payrolls last month.
Nasdaq, which includes stocks of tech giants such as Facebook, Apple, Amazon, Netflix and Google, closed down 361 points, or 2.7 percent, at 12,997. The drop comes after Tuesday's decline of 1.7 percent for Nasdaq. Following heady gains since the end of October, Nasdaq has had a rough two weeks and a half, losing almost 8 percent since its last strong finish for the week ended February 5.
The S&P 500, a barometer for the top 500 US stocks, closed down 1.3 percent after Tuesday's slide of 0.8 percent.
The Dow Jones Industrial Average, the broadest gauge of the New York Stock Exchange, fell 0.4 percent, after the 0.5 percent decline in the previous session.
US private sector jobs grew by 117,000 in February, private payrolls surveyor ADP said Wednesday ahead of the government's payroll report due later in the week that would indicate how well the labor market was recovering from the one-year long coronavirus pandemic.
