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NEW YORK (AP) — Stocks are opening on a down note as a rally that drove the market sharply higher in September seems to be running out of gas.
Economic news out Wednesday darkened the mood on the stock market. Manufacturing activity in New York slowed this month and came in below analysts' expectations. That disappointed investors who had become accustomed to seeing steady increases in activity at U.S. factories.
In the opening minutes of trading, the Dow Jones industrial average fell 22, or 0.2 percent, to 10,503. The Dow is still up 4.7 percent so far in September, an unusually strong showing for the month.
The Standard & Poor's 500 index fell 4, or 0.4 percent, to 1,116 and the Nasdaq composite was down 6, or 0.3 percent, at 2,283.