Wall Street Live: S&P 500, Dow Jones, Nasdaq drop on weak jobs data, Tesla rises on Q2 sales
At the opening bell, the Dow Jones Industrial Average fell 39.3 points, or 0.09%, to 44455.66. The S&P 500 fell 4.1 points, or 0.07%, to 6193.88, while the Nasdaq Composite dropped 18.5 points, or 0.09%, to 20184.374.
ADP National Employment Report showed that US private jobs unexpectedly fell in June and job gains in May were smaller than initially thought.
The weaker-than-expected jobs data fuelled expectations that the US Federal Reserve may slash interest rates sooner than expected.
Fed Chair Jerome Powell on Tuesday reiterated that the central bank is taking a patient approach to further interest rate cuts.
Gold prices rose on Wednesday on weak jobs data.
Spot gold was up 0.3% at $3,347.59 per ounce, as of 1246 GMT. US gold futures rose 0.3% to $3,358.10.
Spot silver rose 0.7% to $36.33 per ounce, platinum was up 1.9% to $1,375.91, while palladium gained 1.9% to $1,120.87.
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