Vaccine stocks slumped Monday after an explosive memo from FDA vaccine chief Vinay Prasad surfaced late Friday, signaling the agency is preparing to roll out tough restrictions on new vaccines for children.

Today’s ISM manufacturing report was significantly weaker. There was contraction across the board, except for prices paid, which increased to 58.5. New orders declined to 47.2, employment to 44.0, and the headline number to 48.2.