NEW YORK (AP) — U.S. stocks tumbled to their worst day since an early August sell-off after another report raised worries about the economy's health.

The S&P 500 slumped 2.1% Tuesday after a report showed U.S. manufacturing shrank again in August, weighed down by high interest rates.

The Dow Jones Industrial Average dropped 1.5% from its record set before Monday's Labor Day holiday. The Nasdaq composite fell 3.3% as Nvidia and other Big Tech stocks led the way lower.

Treasury yields also sank in the bond market.

The worse-than-expected manufacturing data raised worries about the slowing U.S. economy and upped the stakes for the all-important jobs report looming on Friday.