Weak hiring and worries about a protracted government shutdown pushed the U.S. stock market lower Wednesday. The Dow Jones industrial average fell for the eighth day in ten.
U.S. businesses added 166,000 jobs last month, payroll company ADP said Wednesday, a level consistent with only a modest improvement in hiring. Economists polled by FactSet had forecast 180,000 jobs would be added.
The government shutdown entered its second day and in Washington there was little sign of the political stalemate being broken.
The Dow Jones industrial average fell 58.56 points, or 0.4 percent, to close at 15,133.14.
The Standard & Poor's 500 index dropped 1.13 points, or 0.1 percent, to 1,693.87.
The Nasdaq composite declined 2.96 points, or 0.1 percent, to 3,815.02.
For the week:
The Dow is down 125.10 points, or 0.8 percent.
The S&P 500 is up 2.12 points, or 0.1 percent.
The Nasdaq is up 33.43 points, or 0.9 percent
For the year so far:
The Dow is up 2,029 points, or 15.5 percent.
The S&P 500 is up 267.68 points, or 18.8 percent.
The Nasdaq is up 795.51 points, or 26.4 percent.