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Invidious sheds more than $200 billion in market value as U.S. stocks tumble on fears of a slowdown.

And the threat of a strike looms over some of the busiest USC ports.

There have been some analysts who've taken a look at the ports and just their ability to dig out of a

backlog of cargo and just a single day strike would take about five days to clear.

Plus a former staffer for New York Governor Kathy Hockel, was arrested and charged today with being an illegal agent for China.

It's Tuesday, September 3rd, I'm Tracy Hunt for the Wall Street Journal.

This is the PM edition of What's News, the top headlines and business stories that move the world today.

Let's start with the U.S. markets. They took a beating today as fears of a slowdown creep back

following new data about the economy. Tech shares led the way lower with the NASDAQ composite sinking

about 3.3 percent. The S&P 500 lost roughly 2.1% while the Dow Jones

industrial average dropped more than 600 points. So as we just heard, markets took a beating today. New data showed signs of weakness in the

manufacturing sector with the AI chipmaker, NVIDIA shedding more than $200 billion in market value.

ISM's Purchasing Managers Index or PMI

came in lower than expected for August and remained in contraction.

SMP Global's PMI also stayed in contraction,

while construction spending data showed a bigger than expected decline.

Joining me is Wall Street Journal reporter David Uberti.

David, what's going on here?

...