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.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at

Tagged In

markets moneygame-us