U.S. factory gauge tumbles by most since 2008 as orders cool

UNITED STATES manufacturing plunged last month by the most since October 2008, a 5.2-point drop to a two-year low of 54.1 points on the Institute for Supply Management index. / BLOOMBERG NEWS FILE PHOTO/TY WRIGHT
UNITED STATES manufacturing plunged last month by the most since October 2008 with a 5.2-point decline to a two-year low of 54.1 points on the Institute for Supply Management index. / BLOOMBERG NEWS FILE PHOTO/TY WRIGHT
NEW YORK - A gauge of United States manufacturing plunged last month by the most since October 2008, a fresh sign of deceleration in the economy amid global strains across the sector. U.S. stocks extended declines and Treasury yields fell after the report. The Institute for Supply Management index dropped to a two-year low of 54.1, missing…

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