U.S. stocks fell from recent record highs Wednesday amid economic reports that continued to show moderate U.S. growth ahead of Friday's closely watched job-creation report. In U.S. economic news, private-sector hiring slowed in February but remained at a healthy level, service-sector activity improved modestly, and the Federal Reserve issued a report showing optimism on an expanding economy in most regions. The U.S. dollar traded higher versus major world currencies. Gold futures fell $3.50 to $1,200.90 an ounce on the New York Mercantile Exchange. West Texas Intermediate (WTI) crude futures rose $1.01, or 2 percent, to $51.53 a barrel after the U.S. government reported that weekly crude-oil inventories rose 10.3 million barrels, far above the 4 million expected by analysts. The Dow Jones industrial average fell 106.47, or 0.6 percent, to 18,096.90. Twenty-three of the index's 30 components fell, led by financial firm American Express and heavy-machinery maker Caterpillar. The broader Standard & Poor's 500 index fell 9.25, or 0.4 percent, to 2,098.53. All of the benchmark index's sectors fell, except for healthcare. The technology-heavy Nasdaq composite index fell 12.76, or 0.3 percent, to 4,967.14, below the psychologically important 5,000 level hit earlier this week for the first time in 15 years.
