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10:05 am : Just hitting the wires, November construction spending rose 0.1% (consensus -0.4%). Separately, the ISM Index, a national survey of purchasing managers, dropped to 47.7 from a prior reading of 50.8. Economists expected a reading of 50.5. Any number below 50 is intended to reflect contraction.

Stocks were trading at the unchanged mark, but quickly fell into the red after the disappointing ISM report. Eight of the ten economic sectors are in negative territory. Financials (-1.1%) and telecom (-1.0%) are leading the retreat. Energy is outperforming, aided by a 2.2% rise in crude oil prices.DJ30 -68.44 NASDAQ -6.02 SP500 -5.98 NASDAQ Dec/Adv/Vol 1080/1285/137 mln

http://finance.yahoo.com/marketupdate/overview