Persistent worries about the slowing economy and investors on edge again Wednesday.

[Lady Freedom Returns]

The Dow Jones industrial average dropped 217 points, or 1.4%, ending below 15,000 for the first time since May 6. The S&P 500 also dropped 1.4% and the Nasdaq declined 1.3%. The day's losses were the worst in almost two months for the Dow and Nasdaq.

Payroll-processor ADP said Wednesday that the private sector added 135,000 jobs in May, less than the 157,000 economists were expecting.

While the weak reading gave investors some hope that the Fed won't pare back its bond buying program anytime soon, nerves remain frayed and investors are taking caution.

The ADP report is a prelude to the U.S. government's closely watched monthly jobs report. That report is due before the bell Friday.

Read more @ http://money.cnn.com/2013/06/05/investing/stocks-markets/index.html?hpt=hp_t2

[Fumesucker]

1. Does the phrase "irrational exuberance" ring a bell?

http://en.wikipedia.org/wiki/Irrational_exuberance

[Tarheel_Dem]

2. I heard Richard Haas say that the sequestration cuts, Obama warned about, are finally showing up...

in the numbers. He was roundly ridiculed when the effects didn't show up the next day.