Never mind bailout

Today's worry on Wall Street is not the rescue plan, which seems to have undergone a 180-degree revival in less than 48 hours, but the overall economy. A key manufacturing index fell in September to a seven-year low (well below what analysts had expected). From AP:

The Institute for Supply Management's (ISM) manufacturing index fell to 43.5 in September, down from the August reading of 49.9. Economists were expecting a reading of 49.5, according to a consensus estimate compiled by Briefing.com. The tipping point for the index is 50, with a reading below that indicating contraction in factory activity. A reading below 41 marks a recession. The index has hovered around the 50 mark for the past 12 months, with an average of 49.6.

September's employment report comes out Friday and most indicators suggest it will be ugly. The Dow is down almost 200 points.