The day before, the S&P 500 SPX -2.09% lost 0.9%, while the Dow industrials DJIA -1.97% sank to the lowest level in five weeks, dropping 1.1%. The Nasdaq Composite COMP -2.15% fell 0.6%. All were hit by a surprise contraction in China’s manufacturing sector, which came on top of worries about the country’s financial sector and fed concerns about a possible spillover to the rest of the global economy.
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