S&P 500 drops as U.S. recession fears deepen

The S&P 500 and Nasdaq fell on Wednesday as a growing wave of weak economic data deepened worries that the U.S. economy might tip into recession.Reuters:Tesla Inc fell 3.5% while Amazon, Apple, and Microsoft each lost more than 1%.
Driving the recession fears, the ADP National Employment report showed U.S. private employers hired far fewer workers than expected in March. That followed Tuesday’s weak job openings data.
As well, the Institute for Supply Management’s survey showed t