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Stocks mixed following weak private sector jobs report

Stocks mixed following weak private sector jobs report
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U.S. stock markets were mixed in morning trading Wednesday following a report of weak increases in private sector jobs.

The Dow Jones Industrial Average inched up 76 points, or 0.2 percent, the S&P 500 fell 7 points, or 0.2 percent, and the Nasdaq composite dropped 90 points, or 0.7 percent.

Payroll company ADP reported that only 117,000 jobs were added to the weak labor market in February, well below expectations. Official jobs data comes out Friday.

Investors are also concerned over an increase in bond yields, which equates to rising borrowing costs, a potential strain on the economy.

Last week’s unexpected spike in the bond market sent stock markets tumbling, but they recovered once yields pulled back.