US stocks deepen losses, Nasdaq closes below 13,000

US stock indices fell on Wednesday, after the release of disappointing economic data, in addition to rising US Treasury bond yields.

The yield of the US 10-year Treasury rose near the 1.5% mark today, , after rising to 1.6% on Friday for the first time in more than a year.

ADB data showed that the US private sector added 117,000 jobs during February, while expectations indicated that 203,000 jobs would be added.

The Institute for Supply Management revealed that the service sector in the US fell in February 55.3 points, missing forecasts of 58.7 points.

US President Joe Biden stated that the US will have enough Covid-19 vaccines for every adult by the end of May.

To the oil market, WTI crude April futures rose rose 2.6% or $1.53, and closed at $61.28 a barrel, after hitting a high of $61.8 and a low of $59.2.

Brent May futures rose 2.1% or $1.37, and closed at $64.07 a barrel, after hitting a high of $64.4 and a low of $62.3.

As for stocks, Dow Jones fell 0.4% or 121 points, and closed at 31,270, with a day high of 31,563, and a low of 31,260.

Nasdaq fell 2.7% or 361 points to 12,997 points, with a high of 13,372 and a low of 12,995.

S&P 500 fell 1.3% or 50 points to 3,819, after hitting a high of 3,874 and a low of 3,818.