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Hard Landing For U.S. Manufacturers Fuels Speculation Of Earlier Rate Cut.(A)(Company In The News)
Byline: Charles Oliver
Investor's Business Daily
If you thought 2000 ended on a sour note for investors and the economy, buckle up. This year is starting where the last left off.
The first big economic report of the year showed that manufacturing activity inDecember fell to its lowest level in nearly a decade.
That sent a shiver through the stock market Tuesday, slicing the Nasdaq 7.2% toanother low. The Dow lost 1.3% and the S&P 500 2.8%. Meanwhile, bonds roared
ahead on signs the economy is slowing even more quickly than feared.
The 10-year Treasury note leapt 1 1/2 points, slashing its yield 19 basis points to 4.92%
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