Wall Street slides after manufacturing data, salesforce tumbles; Dow falls

"Yesterday's move was so crazy large, this is probably just some natural profit taking," Rusty Vanneman, chief investment strategist at Orion Advisor Solutions, said

Wall Street gave up gains made earlier on Thursday as a contraction in manufacturing activity last month clouded data showing a mild easing in inflation and solid consumer spending, while a fall in Salesforce shares dragged the Dow lower.
 

U.S. manufacturing activity shrank for the first time in 2-1/2 years in November as higher borrowing costs weighed on demand for goods, and proved to be a trigger for investors to book profits following a rally in the previous session.
 

"Yesterday's move was so crazy large, this is probably just some natural profit taking," Rusty Vanneman, chief investment strategist at Orion