Even a Delay in Rate Hikes Could Not Help Stocks

After yesterday's pummeling, today had no chance of offering relief.  Poor manufacturing data from China continued to sour investors.  With no economic reports today, traders looked the Markit Manufacturing purchasing index today and saw slippage to the lowest point since October 2013 while its employment component fell to the lowest in 13 months.  The result, disaster.   The Dow fell 530 points in a market most foul.