NEW YORK (AP) — 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 on Wednesday. The ISM report, a key manufacturing index, fell from its April level. And private employers added just 38,000 jobs in May, according to payroll processor ADP. Analysts had expected a growth of 180,000.