Stocks are sliding again -- Dow off 130

Stocks are sliding again on Wednesday.

In early trade on Wednesday, the Dow was down 124 points, the S&P 500 was down 12 points, and the Nasdaq is down 33 points.

On Tuesday, stocks retreated after the Nasdaq topped 5,000 on Monday for the first time since the height of the tech bubble and the Dow and S&P 500 moved to new all-time highs.

On the economic data front on Tuesday, the latest private payrolls report from ADP showed private employers added 212,000 jobs in February, just below the 219,000 that was expected by economists.

We’ll also get the latest read on service sector activity from Markit Economics and the Institute for Supply Management later this morning.

NOW WATCH: Nationwide’s Super Bowl commercial about dead children is about corporate profits … in a way that we can all appreciate

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at