Manufacturing Data Drives U.S. Stocks Down

June 1, 2011
Sell-off snaps four-session win streak.

U.S. stocks plummeted Wednesday, with the Dow blue-chip index losing 2.2%, after data showed fresh weakness in the jobs and manufacturing sectors.

After a four-session winning streak, the Dow Jones Industrial Average was down 279.12 points (2.22%) to 12,290.67 in closing trade.

The broader S&P 500 index fell 30.66 points (2.28%) to 1,314.54, while the tech-heavy Nasdaq Composite shed 66.11 points (2.33%) to 2,769.16.

The data vexing Wall Street included the Institute for Supply Management's latest PMI Index, which slipped from 60.4% in April to 53.5% in May.

See Also:

About the Author

Agence France-Presse

Copyright Agence France-Presse, 2002-2017. AFP text, photos, graphics and logos shall not be reproduced, published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium. AFP shall not be held liable for any delays, inaccuracies, errors or omissions in any AFP content, or for any actions taken in consequence.

Sponsored Recommendations

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!