How the major stock indexes fared Wednesday

AP News
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Posted: Jun 01, 2011 5:24 PM
How the major stock indexes fared Wednesday

Fears that the economy is stalling sent the Dow Jones industrial average down 280 points, erasing more than a quarter of the stock market's gains for the year.

A pair of reports raised new doubts about the economy's strength Wednesday. A key manufacturing index fell sharply from April and private employers added just 38,000 jobs in May, according to payroll processor ADP. Analysts had expected growth of 180,000.

Stocks fell broadly, with all 30 stocks in the Dow declining.

The Dow Jones industrial average dropped 279.65 points, or 2.2 percent, to 12,290.14.

The Standard & Poor's 500 index lost 30.65, or 2.3 percent, to 1,314.55

The Nasdaq composite fell 66.11, or 2.3 percent, to 2,769.19.

For the week:

The Dow is down 151.44, or 1.2 percent.

The S&P is down 16.55, or 1.2 percent.

The Nasdaq is down 27.67, or 1 percent.

For the year to date:

The Dow is up 712.63, or 6.2 percent.

The S&P is up 56.91, or 4.5 percent.

The Nasdaq is up 116.32, or 4.4 percent.