News Column

Markets Slide on Factory Slowdown

Dec. 3, 2012

U.S. stock indexes were lower Monday after a key manufacturing report said factory business activity slowed in November.

The Institute of Supply Management said the Purchasing Managers Index dropped from a growth-positive 51.7 in October to 49.5 in November, with numbers below 50 indicating contraction.

New orders remained positive -- just -- with a mark of 50.3 for the month.

In early afternoon trading, the Dow Jones industrial average shed 41.85 points, 0.32 percent to 12,983.73.

The tech-heavy Nasdaq index shed 3.18 points or 0.11 percent to 3,007.06. The Standard and Poor's 500 gave up 4.15 points or 0.29 percent to 1,412.03.

The 10-year treasury note fell 2/32 to yield 1.625 percent.

The euro rose to $1.306 from Friday's $1.2987. The dollar fell to 82.21 yen from 82.48 yen.

Japan's Nikkei 225 index climbed 0.13 percent, 12.17 points, to 9,458.18.

Britain's FTSE 100 index added 0.08 percent, 4.42 points, to 5,871.24.



Source: Copyright United Press International 2012