Wall Street Off Sharply at Open
Well, so much for two days' optimism.
In the first half-hour of trading, the Dow is down more than 200 points, about 2 percent.
The Nasdaq and the S&P 500 are both down more than 2 percent.
The markets appear to be reacting to last week's jobless claims, which reached seven-year highs.
Also, August factory orders fell by the largest amount in two years, a sign that the manufacturing sector is feeling the credit crunch. Orders fell by 4 percent in August, a far worse showing than the expected 2.5 percent decline. The weakest sectors were aircraft and auto orders, down 38 percent and 10.6 percent, respectively.
-- Frank Ahrens
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