U.S. Stocks Open Lower After Dismal Manufacturing Data

U.S. stocks opened lower on Monday as a disappointing reading from the New York-area manufacturing conditions appeared to dampen investor confidence. The Empire State general business conditions index nosedived to a reading of negative 14.9 in August, the worst level since the recession. The S&P 500 opened 11 points, or 0.5%, lower at 2,080. The Dow Jones Industrial Average fell 100 points, or 0.6%, to 17,372 at the open. The Nasdaq Composite began the day down 22 points, or 0.4%, at 5,026.