Stocks in a late swoon over weak economic signs

NEW YORK (AP) — A series of weak reports on the U.S. economy is sending the stock market sharply lower.

The Dow Jones industrial average fell 203 points to 14,973 in afternoon trading Wednesday, a loss of 1.4 percent. It’s the first time the Dow has traded below 15,000 in a month.

The slump came after several reports suggested that the economy is slowing.

The data included a slowdown in hiring at private companies, a drop in mortgage applications and weak service-sector job growth.

The Standard & Poor’s 500 index fell 24 points, or 1.5 percent, to 1,607.

The Nasdaq fell 47 points to 3,398, a loss of 0.7 percent.

As traders sold stocks, they fled to the safety of government bonds. The yield on the 10-year Treasury note fell to 2.09 percent. provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language, racial slurs or consistent name calling will be banned. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review.

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