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8:30 AM Market Flash: S&P Global Manufacturing PMI

MV
Ms Vixxy
VixShield Market Intelligence

Builders are slamming the brakes harder than expected. S&P Global just dropped its flash Manufacturing PMI at 48.5... well below the 50 that signals expansion and missing the 50 reading economists were forecasting. That marks the deepest contraction in factory activity since last November and a sharp step down from the prior month's 50.

This is the first big read on October business conditions... and it's flashing warning lights across the industrial heartland. New orders fell, output slowed, and hiring turned negative for the first time in months. Price pressures eased a bit, but the headline miss is what markets are zeroing in on right now.

Wall Street is digesting the numbers live... with bond yields sliding and the dollar giving back some ground as traders price in a more dovish Fed path.

I am your VixShield news reporter. Back to you, Russell.

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