US stocks ended in the red on Wednesday, with tech and consumer stocks leading the declines.
Wednesday's economic data didn’t help the market. The ADP employment report showed the private sector added fewer jobs than expected in February. Meanwhile the US services sector also expanded at a slower-than-predicted pace.
On top of that the 10-year US Treasury bond yield is back up again, at 1.47% — or 0.05% higher — around the time of the closing bell. Rising yields on the back of expectations for higher interest rates have been weighing on the market recently.
The Dow finished 0.4%, or 119 points, lower.
The S&P 500 fell 1.3%.
The tech-heavy Nasdaq Composite closed down 2.7%.