U.S. stocks fell, following the steepest decline for equities in more than a month, as weaker-than-estimated data added to concerns about slowing growth before Friday’s government jobs report.
The Standard & Poor’s 500 Index fell 0.5 percent to 2,079.78 at 1:00 p.m. in New York, after earlier rising as much as 0.4 percent. The Dow Jones Industrial Average declined 105.10 points, or 0.6 percent, to 17,823.10. The Nasdaq Composite Index lost 0.5 percent, while the Russell 2000 Index was little changed as biotechnology shares rallied.
Equities briefly extended their earlier declines after Federal Reserve Chair Janet Yellen said equity market valuations are quite high and could be a potential source of financial instability in remarks on a panel in Washington.
Source : Bloomberg