Shares of industrial and transportation companies fell after another report of slowing factory activity.

The Institute for Supply Management said its purchasing managers' index of manufacturing activity was 48.4 in November, up from 46.5 in October, but still in contractionary territory.

Manufacturing conditions across much of Asia strengthened midway through the fourth quarter, according to the late.

Chrysler parent Stellantis said Chief Executive Carlos Tavares is stepping down, effective immediately, after the automaker's sales and profit sharply declined this year.

Republican Sen. Marco Rubio, President-elect Donald Trump's nominee for secretary of state, is a strident critic of Chinese trade abuses, including its alleged use of forced labor, a stance that could complicate the outlook for companies reliant on Chinese imports.

Monthly electric vehicle deliveries at Chinese manufacturers XPeng, NIO, and Li Auto set a record in November.


Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

12-02-24 1735ET