S&P 500 gives up small gains, now -0.4% following the big ISM miss. It's the first print under 50 since July 2009. The sharp decline in New Orders (to 47.8 from 60.1) looks to be behind the big move. "Slowing world economies, particularly China, are reducing Q3 and later orders and drastically dropping some raw materials prices," goes a sample respondent quote.