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The Chicago Purchasing Managers' Index 🇺🇸 (PMI) fell to 36.9, below the forecast of 42.7, indicating a sharper-than-expected decline in the region's manufacturing sector. The Chicago PMI is an important indicator used to assess the health of manufacturing in the US Midwest. Levels below 50 signal a decline, while levels above 50 indicate expansion. While this indicates continued economic weakness in various parts of the US, it is not necessarily the cause of the recent market correction. The US stock market continued to decline in the final trading days of the year, likely due to fund managers taking year-end profits to protect their bonuses.