StockMarketWire.com - The US services purchasing managers' index slumped to a record low of 39.1 in March, down from 49.4 in February, according to an initial 'flash' reading from IHS Markit.

The market had been expecting a more modest drop to 44.1.

Manufacturing PMI fell to a 127-month low of of 49.2, down from 50.7 in February, but not as deeply as market expectations for a fall to 45.1. Story provided by StockMarketWire.com