Business

US stocks slump most since june as manufacturing gauge weakens

About 9.5 billion shares were traded Monday, the most since Dec. 20.
About 9.5 billion shares were traded Monday, the most since Dec. 20.Richard Drew/Associated press

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US stocks fell, sending benchmark indexes to their biggest declines since June, as manufacturing in the world’s largest economy slowed more than estimated.

All but nine stocks in the Standard & Poor’s 500 index slipped, the broadest decline since April.

Telephone shares plunged after AT&T introduced new service plans, the latest in escalating price wars between wireless carriers. Ford and General Motors fell at least 2.3 percent after reporting declines in January auto sales. Jos. A. Bank Clothiers slid 5 percent after telling Men’s Wearhouse it will not enter takeover talks.

The S&P 500 fell 2.3 percent to 1,741.89, the lowest close since Oct. 17. The Dow lost 326.05 points, or 2.1 percent, to 15,372.80. The gauge has fallen 7.3 percent this year to a three-month low.

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