Stocks Are Tumbling Again

Manchester United's Javier Hernandez soccer kick tackleREUTERS/Russell CheyneManchester United’s Javier Hernandez (R) is tackled by Swansea City’s Chico Flores during their English FA Cup third round soccer match at Old Trafford in Manchester, northern England January 5, 2014.

The U.S. stock markets have fallen into the red this morning.

The Dow is down 52 points and the S&P is down 6 points, reflecting 0.3% declines. That Nasdaq is down 25 points or 0.6%.

This comes in the wake of a disappointing ISM services report. The headline index unexpectedly fell to 53.0 in December from 53.9.

Everyone is particularly worried about the new orders sub-index, which plunged to 49.4. This was the lowest reading since May 2009.

“The decline in new orders activity augurs negatively for future service sector performance,” said TD Securities’ Gennadiy Goldberg.

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