U.S. stocks saw their worst start to February since 1933 after a manufacturing report heightened concern about the economy before Friday’s monthly jobs report. Overall factory activity hit an eight-month low in January as new order growth plunged by the most in 33 years.
All three major indices fell over 2 percent and the Dow Jones Industrial Average dropped below its 200-day moving average for the first time since 2012. In a sign of heightened investor jitters, the CBOE Volatility Index, or VIX, rose above 20 on Monday for the first time in four months, while the yield on the 10-year Treasury note fall to a three-month low.
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