CAPITAL MARKETS

US stocks drop on data

THE S&P 500 retreated overnight from its record high after data showed a drop in manufacturing, as metals slumped.

Kristie Batten

The Dow Jones Industrial Average and S&P 500 each fell just over 0.9%. The Institute for Supply Management’s said April’s purchasing managers index dropped 0.6% to 50.7%, the lowest rate of the year....

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