Wall Street cuts losses after ISM data

Oct 3, 2011, 7:10 a.m.
Traders work on the floor of the New York Stock Exchange September 23, 2011. REUTERS/Brendan McDermid

NEW YORK (Reuters) - Stocks cut losses on Monday after September manufacturing data came in better than expected, assuaging fears that the United States is heading back into recession.

The Dow Jones industrial average dropped 32.61 points, or 0.30 percent, to 10,880.77. The Standard & Poor's 500 Index dipped 3.06 points, or 0.27 percent, to 1,128.36. The Nasdaq Composite Index fell 11.98 points, or 0.50 percent, to 2,403.42.

(Editing by Jeffrey Benkoe)

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