U.S. markets plunge

NEW YORK, Dec. 1 (UPI) -- U.S. stock indexes plummeted Monday after five days of positive numbers suggested share values were ripe for a sell-off session.

Data were also weak Monday, as the National Bureau of Economic Research confirmed the obvious, declaring the U.S. recession began a year ago.

The Institute of Supply Management said Monday that its leading index of factory activity fell to 36.2, the lowest level in 26 years. The index uses 50 as a break-even point with numbers less than 50 indicating contraction.

By Monday's close, the Dow Jones industrial average lost 679.95 points, or 7.7 percent, to 8,149.09. The Standard and Poor's 500 fell 80.03 points, or 8.93 percent, to 816.21. The Nasdaq composite index fell 137.50 points, or 8.95 percent, to 1,398.07.

On the New York Stock Exchange, 356 stocks advanced and 2,809 declined on a volume of 3.009 billion shares traded.

The benchmark 10-year U.S. Treasury bond rose 1 13/32 to yield 2.765 percent.

The euro fell to $1.2625, compared to Friday's $1.2701. Against the Japanese yen, the dollar fell to 93.20 yen, compared with 95.56 yen.

In Tokyo, the Nikkei average points to fell 115.05, down 1.35 percent, to 8,397.22.

In London, the FTSE 100 index fell 222.52, down 5.19 percent, to 4,065.49.