Photo: Google Finance

Stocks are selling off this morning.

  • Dow is down 108 points
  • S&P 500 is down 10 points
  • Nasdaq is down 18 points

We just learned that the Chicago PMI report fell to 49.7 from 53.0 a month ago.  This was well below the 52.8 economists were looking for.

A reading below 50 signals contraction.

This is the first sub-50 reading since September 2009.

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