Fra Zerodge:
Just in case you thought the ISM number was a flukey ‘transitory’ one-off, the New York City ISM just plunged, with the outlook collapsing to its lowest since Feb 2009.
Source: Bloomberg
And ahead of Friday’s payroll print, NYC ISM’s employment index plunged to 52.5 from 69.0.
It’s getting harder for stocks to ignore reality.