Another “Blood Bath” in Wall Street as Dow tumbles 300 points on weak data

February is looking an awful lot like January for investors. Emphasis on awful.The Dow tumbled more than 300 points Monday afternoon, or almost 2%, after a much worse-than-expected reading on manufacturing activity. The S&P 500 and Nasdaq were down more than 2%. CNNMoney’s Tech 30 index was also down sharply. Investors were disappointed after the Institute for Supply Management’s monthly index showed that manufacturing activity last month expanded at its weakest pace since May. The bad news comes as investors are still reeling from a rough January. Disappointing earnings and volatility in emerging markets sent stocks sharply lower during the first month of the year. The Dow tumbled more than 5% last month — its worst January since 2009. Many experts think the market could fall further, following big gains in 2013 and the fact that the stocks haven’t taken a big breather in a while. Though stocks took a small step back last spring, they haven’t experienced a correction, typically defined as a decline of 10% or more, in more than two years. With Monday’s losses, the Dow is down more than 7% from the all-time high it hit on the last day of 2013, while the S&P 500 has fallen almost 6% from the all-time high it reached last month. More
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