The US markets ended in red on Wednesday with the Dow snapping a three-day winning streak after the better-than-expected January jobs report failed to sustain positive market sentiment. A closely watched report released by the Labor Department showed employment in the U.S. increased by much more than expected in the month of January. The Labor Department said non-farm payroll employment jumped by 130,000 jobs in January after rising by a downwardly revised 48,000 jobs in December. Sector wise, Energy stocks saw substantial strength amid a sharp increase by the price of crude oil, with the Philadelphia Oil Service Index and the NYSE Arca Oil Index surging by 3.1 percent and 2.8 percent, respectively.
Nasdaq decreased 36.00 points or 0.16 percent to 23,066.467, S&P 500 fell 0.34 points to 6,941.47 and Dow Jones Industrial Average slipped 66.74 points or 0.13 percent to 50,121.4.
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