47.8 is the weakest we've seen since the recession.   Interestingly enough, PMI came in slightly positive at 51.1. But in 20+ years,  I have never seen a selloff like this in equities based on a soft ISM.  Either something else is going on, or this market is extremely nervous.   ISM is a good indication,  but it does not move equity markets like this. I've seen negative job growth have less impact. Barring additional news,  expect one heckuva rebound tomorrow.

https://us.econoday.com/byshoweventfull.asp?fid=499016&cust=us&year=2019&lid=0&prev=/byweek.asp#top

https://us.econoday.com/byshoweventfull.asp?fid=499272&cust=us&year=2019&lid=0&prev=/byweek.asp#top