U.S. stocks followed European markets lower Wednesday morning despite a gain of 209,000 jobs in the private sector in March.
Automatic Data Processing Inc. announced the gain in jobs, which was slightly higher than the 203,000 expected.
Markets in Europe fell, as a bond auction in Spain sent yields on 10-year benchmark notes higher.
In early afternoon trading on Wall Street, the Dow Jones industrial average lost 159.39 points to 13,040.16, off 1.21 percent.
The Nasdaq composite index gave up 58.50 points, to 3,054.90, off 1.88 percent. The Standard and Poor's 500 index shed 18.36 points to 1,395.02, down 1.3 percent.
The 10-year treasury note rose 20/32 to yield 2.239 percent.
The euro fell to $1.313 from Tuesday's $1.3234. Against the yen, the dollar fell to 82.58 from Tuesday's 82.81 yen.
In Tokyo, the Nikkei 225 index shed 230.40 points, 2.29 percent, to 9,819.83.
In London, the FTSE 100 index gave up 2.3 percent, 134.57, to 5,703.77.
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