We gapped down 2 percent at the open and stayed down.
You can blame it on China's poor manufacturing numbers if you want, but the number was in line with consensus. This was a broader selloff than that. The whole market was down roughly 3 percent. OK, industrials like GE and United Technologies down 2 to 3 percent, I can understand. Commodity names like Exxon or DuPont down 2 or 3 percent make sense. They all have international exposure.
But telecom and utilities? They were all down 2 or 3 percent as well.