It’s the first of the month which means car sales are in. Fiat Chrysler (FCAU) recorded its best August since 2002 with unit sales up 1.7%. That’s more than three times estimates. General Motors (GM) reported a 0.7% decline but that was better than an expected 3% drop. Ford (F) sales were up 5.4%, far higher than a forecast 2%. That was driven by a double-digit increase in truck sales. The Dow moved back into a correction as fresh fears on China’s economy sent global markets tumbling. All 30 Dow components were in the red. U.S. manufacturing slowed to its weakest level since mid-2013, according to the ISM report. The manufacturing sector has struggled with exports as an increase in the greenback made U.S.-made products more expensive.
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