Wall Street stocks traded lower on Wednesday despite the employment jump seen in March for the private sector, according to The New York Times.

The major indexing trio all showed a decrease in stock prices: The Dow Jones industrial average and Standard & Poor’s 500 stock index both dropped by 1.1%. Nasdaq’s composite index fell by 1.7%.

Stock declines in light of otherwise favorable employment news, might be attributed to the recent meeting minutes released by the Federal Reserve.

Sal Arnuk, co-head of trading at Themis Trading, said the Fed’s claims of “robust” markets casted doubts on the recent streak of economic recovery.

— Paul Dang