Stocks Slip on Economic Worries
Stocks fell on midday trading on Tuesday, after a report showed the country’s manufacturing sector shrank at its sharpest clip in more than three years last month. The Dow Jones Industrial Average lately fell 93.05 points, or 0.71%, to 12,997.79. The S&P 500 was off 8.06 point, or 0.57%, to 1,398.52. The Nasdaq Composite was down 18.88 points to 3,048.08.
The Institute for Supply Management said its index of national factory activity fell to 49.6 in August from 49.8 in July. The index also shrank in June. A reading below 50.0 indicates contraction. The data followed similar disappointing readings on manufacturing elsewhere in the world.