S&P Sinks 1% as Oil Falls on Weak Outlook
NEW YORK ( TheStreet) -- U.S. stocks fell the most in five weeks Wednesday as a convergence of sluggish job creation, slow service sector growth and international conflict sent crude tumbling along with energy stocks including Tesoro Corp (TSO).
Private employers added 158,000 jobs in March, trailing an upwardly revised 237,000 in February and well below the 200,000 jobs that economists were expecting. Services sector growth makes up about 90% of the U.S. economy, according to the ADP National Employment Report. The ADP report is a precursor to a non-farm payrolls report for March due on Friday.
"The quarter is over, so some professional portfolio managers are releasing trades that they had held ... and now that they're past
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