Bubble

Trouble

Dow plunges nearly 800 points on rising fears of an economic slowdown

The Dow Jones Industrial Average fell 799.36 points, or 3.1 percent, to close at 25,027.07 and posted its worst day since Oct. 10. At its low of the day, the Dow had fallen more than 800 points. 

The S&P 500 declined 3.2 percent to close at 2,700.06. The benchmark fell below its 200-day moving average, which triggered more selling from algorithmic funds. Financials were the worst performers in the S&P 500, plunging 4.4 percent. Utilities was the only positive sector in the S&P 500, rising 0.16 percent.

Worldoutlook darkens as factory activity slips, orders fall

In a sign that corporate sentiment is taking a hit from the worries over protectionism, manufacturing activity slipped in November in countries as varied as France, Germany, Indonesia and South Korea, IHS Markit Purchasing Managers’ Indexes showed on Monday.

Ford To Announce 25,000 Job Cuts: Morgan Stanley

MS analyst Adam Jonas said that as part of Ford's $11 billion 'restructuring', Morgan Stanley expects the car maker could cut as many as 25,000 jobs (though the bulk of the cuts would likely focus on its profit-draining European operations).

 DYI