US STOCKS SNAPSHOT-Wall St stumbles on Intel warning, jobs data
NEW YORK, Jan 7 (Reuters) - U.S. stocks fell at the open on Wednesday as technology bellwether Intel Corp (INTC.O: Quote, Profile, Research) warned about its outlook, adding to the gloomy mood following a report showed 693,000 private-sector U.S. jobs were lost in December.
* The gloom from the ADP private sector employment report presented a major headwind for the market, two days before the key December U.S. nonfarm payrolls report. For more see [ID:nN07472855]
* In another sign of tough economic times, Alcoa Inc (AA.N: Quote, Profile, Research), a Dow component, announced after the bell on Tuesday it would slash 15,000 jobs and cut capital spending [ID:nN06444898].
* The Dow Jones industrial average .DJI slumped 145.44 points, or 1.61 percent, at 8,869.66. The Standard & Poor's 500 Index .SPX dropped 14.29 points, or 1.53 percent, at 920.41. The Nasdaq Composite Index .IXIC lost 28.71 points, or 1.74 percent, at 1,623.67. (Reporting by Deepa Seetharaman; Editing by James Dalgleish)
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