Dow Jones drops 70 points despite encouraging payroll data

NEW YORK, New York - A decline in labor costs as measured by ADP failed to boost U.S. Markets Wednesday.

"ADP's National Employment report's payroll data shows the Fed's anti-inflation treatment is now really taking effect," David Russell, global head of market strategy at online investing platform TradeStation told CNBC Wednesday.

"The numbers point toward a soft landing, but investors may start to worry a