The U.S. ISM Purchasing Manager Index for manufacturing fell to 49.1 from 51.2 in August, the first time it indicated a contraction in activity since Aug. 2016. ISM’s Chairperson, Tim Fiore, stated that “trade remains the most significant issue”, with the export expectation reading of 43.3 down from 48.1 a month earlier marking the weakest result since at least 2010. The import survey result also worsened to the lowest since Dec. 2015, though Fiore stated firms are making “supply chain adjustments” to compensate for higher tariffs on U.S. imports from China. Business surveys in the U.S.,...