Markets Drop at Opening
Wall Street seemed determined to instantly give up yesterday's rally gains at opening today, with markets dropping across the board.
In the first 15 minutes of trading, the Dow is down about 85 points, or 1 percent.
The broader S&P 500 is down 1.4 percent and the tech-heavy Nasdaq is off nearly 1.6 percent.
Traders have gotten nervous when the S&P has dipped below 800. It's sitting at about 786 at opening today.
Also this morning, ADP Employment Services said that the private sector cut 742,000 jobs in March, many more than the 655,000 expected by economists.
This number could be a predictor of the government's unemployment number set for release on Friday. Economists predict that the U.S. unemployment rate of 8.1 percent will rise to 8.5 percent.
April 1, 2009; 9:47 AM ET
Categories: The Ticker | Tags: Dow Jones, nasdaq, s&p 500, unemployment
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