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5/6, 4:16 PM (Source: TeleTrader)
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Dow, S&P turn negative after strong start

Wall Street cut gains from the start of today's session with the Dow Jones and the S&P 500 turning negative as investors digested the large drop in United States payrolls due to the coronavirus crisis. The ADP National Employment Report released before the bell showed that private payrolls dropped by 20.2 million in April.

The Dow Jones slid 0.40% at 10:14 am ET. The worst performers were Dow Inc and American Express, whose shares fell 2.73% and 2.31%, respectively, at 10:14 am ET.

The S&P 500 lost 0.31% at 10:14 am ET as Arista Networks plunged 8.15% at 10:15 am ET.

Meanwhile, the Nasdaq 100 remained in the green, rising 0.40% at 10:15 am ET.

Breaking the News / NP