NEW YORK, Oct. 2 (Xinhua) -- U.S. stocks closed sharply lower on Wednesday as weak data triggered investors' concerns about a possible economic recession.
The Dow Jones Industrial Average was down 494.42 points, or 1.86 percent, to 26,078.62. The S&P 500 was down 52.64 points, or 1.79 percent, to 2,887.61. The Nasdaq Composite Index fell 123.44 points, or 1.56 percent, to 7,785.25.
U.S. private payrolls growth slowed down in September, according to ADP National Employment Report released on Wednesday.
Private sector employment increased by 135,000 jobs in September, a drop from 157,000 in August, the report showed.
Investors take the report as a preview to the government's monthly jobs report, which will be released on Friday.
On Tuesday, a gauge of U.S. manufacturing from the Institute for Supply Management (ISM) showed that the sector contracted in September.
The U.S. manufacturing PMI (Purchasing Managers' Index) in September registered 47.8 percent, the lowest since June 2009, marking the second consecutive month of contraction, according to the Manufacturing ISM Report on Business.
The reading is down 1.3 percentage points from the August reading of 49.1 percent, the report said. Any reading below 50 percent signals a contraction.
