Wall Streets ends down

Wall Street stumbled today after a key survey showed manufacturing unexpectedly contracted in November for the first time in more than three years, stoking concerns that the US economy will not be able to achieve a soft landing.

Stocks and the dollar were pounded after the Institute for Supply Management said its index on manufacturing fell to 49.5 from 51.2 in October. Economists had been expecting 51.5. Anything under 50 indicates the manufacturing sector is contracting.