published on July 6, 2017 - 2:04 PM
Written by Associated Press

Stocks had their biggest drop since mid-May as investors worried about the latest sign that hiring is slowing down.

Payroll processor ADP reported early Thursday that hiring by private companies slowed in June.

The biggest losses were in health care and technology stocks. Drugmaker Merck lost 1.7 percent and Apple fell 0.9 percent.

L Brands, the parent company of Victoria’s Secret, plunged 14 percent after reporting weak sales in June.

The Standard & Poor’s 500 index fell 22 points, or 0.9 percent, to 2,409.

The Dow Jones industrial average lost 158 points, or 0.7 percent, to 21,320.

The Nasdaq composite slipped 61 points, or 1 percent, to 6,089.

Bond prices fell. The yield on the 10-year Treasury rose to 2.36 percent.


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