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Worst trading day of the year as Chicago PMI tumbles, Dow drops 150 points and industrial 1% lower

SPX News by Allie Longford on 16:42 January 31, 2017 EST
U.S. equities fell on the last trading day of the month, as investors continued to evaluate the latest policies from the White House and companies post quarterly results.

The Dow Jones industrial average fell about 150 points while the S&P 500 slipped 0.46 percent, with industrials falling more than 1 percent to lead decliners.

Stocks suffered their worst trading day of the year, with the Dow falling around 120 points, while the S&P dropped more than 0.6 percent. Equities in the U.S., however, have rallied considerably since Trump's election.

In a report, the Institute for Supply Management (ISM) said its Chicago purchasing managers’ index decreased by 4.3 points to a seasonally adjusted 50.3 this month from a reading of 54.6 in December. That was its lowest reading since May 2016.

EUR/USD trades stronger at 1.0784 from around 1.0772 ahead of the release of the data while GBP/USD remained at 1.2528 and USD/JPY at 112.60, both broadly unchanged.