Investing.com -- While U.S. stocks rose broadly on Wednesday to erase some of their massive losses from Tuesday's sell-off, the major indices ended the month with one of its worst quarters since 2011, weighed down by fears of a potential deflation in China and an imminent interest rate hike by the Federal Reserve.
The Dow Jones Industrial Average and the NASDAQ Composite index each dropped by more than 6% on the quarter, while the S&P 500 Composite index also fell sharply, amid mounting concerns of overvaluation among U.S. equities. Earlier this year, all three major indices surged to all-time record highs.
On Wednesday morning, payroll processing firm ADP said U.S. non-farm private employment rose by 200,000 in September, above analysts' expectations of a 190,000 gain. The reading provides a harbinger for a strong jobs figure on Friday when the U.S. Department of Labor releases its September national employment report.
The Dow gained 235.57 or 1.47% to 16,284.70 in Wednesday's session, while the NASDAQ added 102.85 or 2.28% to close at 4,620.17. The S&P 500, meanwhile, rose 35.94 or 1.91% to 1,920.03, as all 10 sectors closed in the green. Stocks in the Health Care, Technology and Energy sectors led, each gaining more than 2.25% on the day.
The top performer on the Dow was Chevron Corporation (NYSE:CVX), which added 2.63 or 3.45% to 78.88. Shares in the major oil company are still down by roughly 38 over the last year. The worst performer was Procter & Gamble Company (NYSE:PG), which fell 0.36 or 0.50% to 71.92.
The biggest gainer on the NASDAQ was California-based data storage company Western Digital Corporation (NASDAQ:WDC), which surged 10.14 or 14.62% to 79.51 on Wednesday. Earlier, Western Digital (NASDAQ:WDC) said a division of China's Tsinghua Holdings Company planned to buy a 15% stake in its company. The worst performer was Keurig Green Mountain Inc (NASDAQ:GMCR), which fell 1.55 or 2.89% to 52.16. Keurig erased some of its gains from earlier this week after launching its fresh-made cold-beverage machine.
Western Digital was also the top performer on the S&P 500, ahead of Ralph Lauren Corporation (NYSE:RL) which soared 10.14 or 14.62% to 79.51. On Tuesday, the company named the former head of Gap Inc's (NYSE:GPS) Old Navy Division as its new CEO after founder Ralph Lauren (NYSE:RL) announced that he was stepping down from the position. Gap, the worst performer on the S&P 500, fell 1.72 or 5.69% to 28.50.
On the New York Stock Exchange, advancing issues outnumbered declining ones by a 2,392 to 727 margin.