CHRISTINA REXRODE, AP Business Writer
NEW YORK – Investors rejoiced over Europe last week. On Monday, they got back to worrying about the United States.
Stocks sank after a business group reported that American manufacturing shrank in June for the first time in almost three years. The Dow Jones industrial average dropped 48 points to 12,832 at mid-afternoon.
Chemical company DuPont fell the most of the 30 companies in the Dow. It was down $1.48, or 2.9 percent, to $49.09. Caterpillar, General Electric, Alcoa, Exxon Mobil, Boeing and other companies closely tied to manufacturing were also down.
It was the first day of trading of the second half of the year. U.S. stocks in the Standard & Poor’s 500 index finished the first half up more than 8 percent.