NEW YORK (April 3, 2013)—Stocks closed broadly lower Wednesday after weak reports on the U.S. economy.
The Dow Jones industrial average fell 111 points, its worst drop in more than a month, to end at 14,550 Wednesday, a decline of 0.8 percent.
Other indexes fell more.
The Standard & Poor's 500 dropped 1 percent, or 16 points, to close at 1,553.
The Dow and S&P closed at record highs the day before.
The Nasdaq lost 1.1 percent, or 36 points, to end at 3,218.
Small company stocks experienced the worst declines.
The Russell 2000 fell 1.7 percent, or 15 points, to 918.
Hiring and service industry growth weakened last month.
Three stocks fell for every one that rose on the New York Stock Exchange where volume was heavier than usual, 4 billion shares.