Market Monday

WOW, all major indexes dropped more than 5% on Monday morning after five up days in a row.

Consumer spending concerns, 26-year low ISM, and construction spending fell by a larger-than-expected amount in October are all major factors why the market heads lower strongly this morning.

Index of Manufacturing activity fell to a 26-year low in November for the twelfth consecutive month from 38.9 in October to 36.2, which is much worse than Wall Street economists' expectations of 38.4.

The Commerce Department reported Monday that construction spending dropped by 1.2 percent in October, much bigger than the 0.9 percent decline many analysts expected.