Midday Report: Match Gets Stood Up; Services Activity Disappoints

U.S. markets fell to session lows on Wednesday after the U.S. services sector slowed to its weakest pace in two years. The reading suggested that weakness in the manufacturing and energy sectors has spread to the services portion of the economy. Crude bounced back to earlier highs despite an increase in domestic inventories for the fourth week in a row. Stockpiles increased by nearly 8 million barrels, roughly double what analysts had expected. Lowe's (LOW) shares tumbled after the home improvement chain bought its Canadian counterpart Rona for around $2.3 billion. Investors are worried about that pricetag: the deal values Rona at a 104% premium to its Tuesday close. Match Group (MTCH) wasn't looking so hot after reporting its first quarter as a publicly-traded company. TheStreet's Keris Lahiff reports from New York.