U.S. stocks opened lower Wednesday, giving back some of this week’s sharp gains as Treasury yields rise and investors assess data showing job growth in September. The Dow Jones Industrial Average
fell 1% soon after the bell, while the S&P 500
dropped 1.1% and the Nasdaq Composite
slid 1.4%, according to FactSet data, at last check. U.S. private sector employers added 208,000 jobs last month, up from a revised 185,000 in August, according to ADP’s employment report Wednesday. September’s employment growth was slightly stronger than the 200,000 of job gains expected by economists polled by the Wall Street Journal. Meanwhile, the yield on the 10-year Treasury note jumped about 10 basis points Wednesday to around 3.72%.
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