Markets Tanking, Dow Off 155

stock market

Photo: Google Finance

Markets are near their lows of the day.One of the big losers today is Dow component Cisco, which is down 5.6%.  Yesterday afternoon, the company announced it would be laying off 1,200 people.

Things got worse at around 10:00 when we learned that the Richmond Fed Manufacturing Survey plunged to -17.

Economists were looking for -1.

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