The pan-European Stoxx 600 index fell to an intraday low and was now down 0.5%.

S&P 500 futures fell to session lows, down 0.3%.

European luxury goods stocks fell sharply.

Adam Button, an analyst at the financial website Forexlive, commented on the August ADP data: There is growing evidence that the US job market is cooling.

ADP report: The median annual growth rate of wages for employees in the financial services industry was 5.0% in August, compared with 5.0% in July.

ADP report: The median annual growth rate of wages for manufacturing employees was 4.7% in August, compared with 4.7% in July.

ADP report: The median annual wage growth rate for professional/business service employees was 4.7% in August, compared with 4.7% in July.

ADP report: The median annual growth rate of wages for construction industry employees was 5.2% in August and 5.3% in July.

ADP report: The median annual wage growth rate for trade/transportation/utilities employees was 4.5% in August, compared with 4.6% in July.

ADP report: Employment in the financial services industry increased by 18,000 in August and 14,000 in July.

ADP report: Manufacturing employment decreased by 8,000 in August and by 4,000 in July.

ADP report: Professional/business services employment decreased by 16,000 in August and increased by 37,000 in July.

ADP report: Construction employment increased by 27,000 in August and 39,000 in July.

ADP report: Employment in trade/transportation/utilities increased by 14,000 in August and 61,000 in July.