US stocks drop on jobs data, Yellen’s warning on values

NEW YORK: Wall Street stocks fell for a second straight session Wednesday following disappointing jobs data and a warning from Federal Reserve Chair Janet Yellen on high equity valuations. The Dow Jones Industrial Average dropped 86.22 points (0.48 percent) to 17,841.98. The broad-based S&P 500 fell 9.31 (0.45 percent) to 2,080.15, while the tech-rich Nasdaq Composite Index lost 19.68 (0.40 percent) at 4,919.64. Payrolls firm ADP estimated the US added just 169,000 private-sector jobs in April,