from Marketwatch:
U.S. stocks took a sharp turn lower Wednesday following a starkly disappointing reading of midwestern manufacturing activity.
The market had been shaky thanks to surprisingly weak jobs data released prior to the opening bell. Then the losses in major indexes piled up after the Chicago Purchasing Manager's Index showed a surprising decline. The measure fell to 46.1 for September, down from August's reading of 50.0, which is the level at which the index signals an overall expansion in activity.
Economists were expecting the index to show continued improvement, to 52.0, but instead got a fresh reminder that the U.S. recession isn't quite over.
The Dow Jones Industrial Average was recently down 126 points, or 1.3%, at 9615.99. The Nasdaq Composite Index was off 1.3%. The S&P 500 was down 1.2%, hurt by declines in every sector.
