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Wall Street slumps to hit lowest level since October

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NEW YORK — U.S. stocks slumped on Monday, with the S&P 500 hitting its lowest level since October after weaker-than-expected data on the factory sector in the world’s largest economy provided investors with the latest reason to book profits.

U.S. manufacturing grew at a slower pace in January as new order growth plunged by the most in 33 years, while spending on construction projects barely rose in December.

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