The rally in New York came to a full stop yesterday, as financials took a hit and economic news weighed on the broader market.

The first round of economic news came from payroll services firm ADP. It found that private employers added the fewest workers in August in more than four years. There was only a 38,000 net gain in jobs, down from 41,000 in July and the smallest gain since June 2003.

And the National Association of Realtor's pending home sales index fell 12.2 per cent to a reading of 89.9. That is the lowest level it has been since September, 2001.