U.S. stocks slipped after the latest numbers from the Institute of Supply Management showed a manufacturing slowdown in January.
The S&P 500 was off 1.98% to 1,747.27 in afternoon trading Monday.
The Dow Jones Industrial Average slipped 1.70% to 15,432.05, while the Nasdaq fell 2.57% to 3,998.27.
The yield on a 10-year Treasury bond was down 2.25% to 2.61%.
The price of gold rose 1.64% to $1,260.10 per ounce.
Santa Ana technology products distributor Ingram Micro Inc. was off about 5% to $23.88 for a market value of $3.68 billion.
Aliso Viejo chipmaker Microsemi Corp. was down about 4% to $22.43 for a market value of $2.07 billion.
Irvine-based CorVel Corp. slipped about 5% to $45.06 for a market value of $943.38 million. CorVel provides workers' compensation software and services to the healthcare industry.
Aliso Viejo-based drug maker Avanir Pharmaceuticals Inc. fell about 6% to $3.51 for a market value of $533.89 million.