U.S. Factory Index Declines to 26-Year Low

Bloomberg.com: Worldwide: Manufacturing in the U.S. contracted in October at the fastest pace in 26 years. The U.S. purchasing managers' gauge of new orders for factories decreased to the lowest level since 1980. Job losses accelerated, today's report also showed. Employers have cut more than three-quarters of a million jobs so far this year, and economists predict the Labor Department in four days will report that the unemployment rate climbed to 6.3 percent in October, matching the highest level since 1994.