U.S. stocks were hammered on Monday, with benchmark indexes falling through key support levels after a gauge of factory activity disappointed, heightening concern about the economy before Friday's monthly jobs report.
Stocks had wavered ahead of the report that had U.S. manufacturing expanding at a substantially slower pace in January, driving overall factory activity to an eight-month low.
"A report like this scares people ahead of the payroll number on Friday," said Andres Garcia-Amaya, global market strategist at J.P. Morgan Funds, who added the report's soft new orders component was of particular concern.
In a normal world we would have the President address the nation at this point, to calm fears and lead....
How can progressives defend this? When we crash they will blame Bush while we all suffer.
It will be too late. It will make the housing bubble look like Disney land with free food.
Someone needs to step up to a podium, anyone and stop this before it is too late. Hell, even TheDonald speaking up declaring emergent action would calm the storm. Meanwhile Christie the lardass stopped traffic and Romney has a horse.
Someone stop this crazy thing called Obama NOW! His answer to JOBS was to funnel OUR MONEY to San Antonio to Castro- ain't that ironic! Amongst other Obama political pay-off cities.
Where are our leaders? EVERYONE with half a brain (screw the progressives) will listen if someone spoke up and said no more politics this stuff has to end.
..we have a incapacitated, non caring, sitting President that bullies and lies and provides aid and comfort and release to the enemy terrorists! His idea of a job is ACORN workers!!! Please dear God in Heaven send someone to speak up loud and clear!