NEW YORK

US STOCKS dropped Wednesday after weak economic indicators halted the market’s upward momentum of recent weeks.

The Dow Jones Industrial Average sank 111.66 points to 14,550.35. The S&P 500 lost 16.56 points to 1,553.69, while the Nasdaq Composite Index gave up 36.26 points at 3,218.60. The losses came one day after both the Dow and the S&P 500 recorded new all-time closing records.

Alan Skrainka of Cornerstone Wealth Management said the disappointing economic reports - on private-sector jobs growth and service-sector activity - provided an occasion for the market to pause after reaching recent peaks.

Bond prices jumped. The yield on the 10-year Treasury fell to 1.81% from 1.86% late Tuesday, while the 30-year yield dropped to 3.06% from 3.10%. Bond prices move inversely to yields. — AFP