U.S. Stocks Slump After Private-sector Jobs, Productivity Disappoint

U.S. stocks closed lower on Wednesday for a second straight session after a number of economic reports suggested the economy is struggling to regain momentum. Stronger-than-expected service-sector ISM index was not enough to balance disappointing private-sector job gains and a dip in productivity. The S&P 500 ended 12.25 points, or 0.6%, lower to 2,051.12. The Dow Jones Industrial Average fell 99.65 points, or 0.6%, to 17,651.26. Meanwhile, the Nasdaq Composite closed 37.58 points, or 0.8%, lower at 4,725.64.