In recent trading the index was down about 225 points, while the S&P 500 and Nasdaq fell around 1%. Tech stocks like Microsoft ( MSFT ), Advanced Micro Devices ( AMD ) and Apple ( AAPL ) were all under significant pressure. The ugly factory data only reinforces the economic slowdown fears at the heart of the Wall Street meltdown. The S&P 500 tumbled 1.5% to start 2016 on fears about China and crashing oil prices (sound familiar?). Last month, analysts cut their 2019 earnings forecasts on half of the companies in the S&P 500, according to FactSet.

Source: CNN January 02, 2019 11:58 UTC