Market took a sudden swing lower after the manufacturing data hit its worst number since June 2009, accelerating the decline from August. The ongoing GM strike (now in Week 3) will really start to have an impact this month if it isn't resolved. Parts manufacturers will probably start with temporary layoffs soon.
EDIT: Also, the strike impacts a lot of local communities in Michigan much more heavily than elsewhere. Around the time the strike started I heard an estimate as to when the strike could actually tip certain parts of Michigan into recession. I can't recall off the top of my head but I want to say it might have been around the 6 week mark. That would be the second paycheck missed, basically. Nearly all businesses of every sector near the plants starts to get severely squeezed at that point.
https://www.cnbc.com/2019/10/01/us-m...-a-decade.html
EDIT: Also, the strike impacts a lot of local communities in Michigan much more heavily than elsewhere. Around the time the strike started I heard an estimate as to when the strike could actually tip certain parts of Michigan into recession. I can't recall off the top of my head but I want to say it might have been around the 6 week mark. That would be the second paycheck missed, basically. Nearly all businesses of every sector near the plants starts to get severely squeezed at that point.
https://www.cnbc.com/2019/10/01/us-m...-a-decade.html
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