NEW YORK (AP) — Stocks fell in early trading on Wall Street Wednesday after weak reports on hiring and growth at service companies dampened the outlook for the U.S. economy.
The Dow Jones industrial average fell 64 points, or 0.4 percent, to 14,595 as of 11:14 a.m. EDT. The Standard & Poor's 500 index dropped 10 points, or 0.7 percent, to 1,560 points. Both indexes closed at record highs the day before.
U.S. service companies kept growing at a solid pace in March, but the expansion was less than economists were expecting. The Institute for Supply Management's index of service companies fell to 54.4 from 56 a month earlier. The report was the weakest in seven months and fell short of what analysts were expecting.
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