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Wall Street tumbles on US manufacturing data

S&P 500 hits lowest level in almost three months

Reuters  |  New York 

US stocks fell on Monday, with the S&P 500 hitting its lowest level in almost three months after data showed the factory sector in the world's largest economy expanded in January at a far weaker pace than expected. US manufacturing grew at a slower pace in January as new order growth plunged by the most in 33 years, while spending on construction projects barely rose in December. Investor sentiment soured sharply after the factory data, driving the cost of protection against a drop on the S&P to its highest level in nearly four months. The CBOE volatility index jumped ...

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First Published: Mon, February 03 2014. 23:00 IST