Factory orders actually rose in April, but the report was a disappointment because investors anticipated a larger increase.
According to preliminary calculations, the Dow Jones industrial average is down 64.99, or 0.7 percent, at 8,675.88. The Standard & Poor's 500 index is down 12.97, or 1.4 percent, at 931.77. The Nasdaq composite index is down 10.88, or 0.6 percent, at 1,825.92.
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