Stock market today: Wall Street slips after surprisingly strong manufacturing data sends yields up | Business

NEW YORK (AP) — U.S. stocks are slipping from their record heights Monday after a surprisingly strong report on U.S. manufacturing cast doubts on how soon cuts to interest rates could arrive.

The S&P 500 was 0.3% lower in midday trading, coming off an all-time high and its latest winning month in a romp higher that began in late October. The Dow Jones Industrial Average was down 245 points, or 0.6%, as of 11:30 a.m. Eastern time, and the Nasdaq composite was 0.1% lower.

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