Dow Jones Industrial Average drops 268 points
The Dow slid 268.37 points, or 0.96%, to close at 27,783.04. The S&P 500 dropped 0.86% to 3,113.87. The Nasdaq Composite pulled back 1.12% to 8,567.99. Stocks kicked off December on the wrong foot as weak economic data and trade worries halted the market’s rally to record highs.
Manufacturing data, trade worries spark sell-off
The Institute for Supply Management said U.S. manufacturing activity in the U.S. contracted more than expected in November. The disappointing data sent the major averages tumbling. Investors also grappled with negative rhetoric on the U.S.-China trade front. President Donald Trump said Monday that signing legislation in…