NEW YORK, June 1 (Reuters) - U.S. stocks skidded on Wednesday as more weak economic data cemented fears the U.S. recovery was running out of steam and prompted Wall Street firms to slash forecasts ahead of the closely watched payrolls report on Friday.
Goldman Sachs and several other big financial institutions cut estimates for non-farm payrolls growth in May after ADP Employer Services reported much lower-than-expected growth in private payrolls last month.
Wednesday, June 01, 2011
More Obamanomics on parade.
Posted by traderrob at 10:45 AM