Markets head lower Wednesday
August 5, 2009
U.S. markets headed lower Wednesday after Automatic Data Processing Inc. said the country lost 371,000 jobs from June to July.
The monthly report is an improvement over the past three months, when ADP reported job losses that averaged 498,000 per month.
In midmorning trading, the Dow Jones industrial average lost 45.04 points, 0.48 percent, to 9,275.51. The S&P 500 lost 3.78 points, 0.38 percent, to 1,001.87. The Nasdaq index lost 7.30 points, 0.36 percent, to 2,004.01.
The benchmark 10-year Treasury fell 7/32 to yield 3.714 percent.
The euro fell to $1.4385 from Tuesday’s $1.4398. Against the yen, the dollar fell to 95.12 yen from Tuesday’s 95.27 yen.
In Japan, the Nikkei 225 index lost 1.18 percent, 122.48 points, to 10,252.53.
Source: upi