Dow drops 240 to seven-week low
Shares of chemicals maker DuPont fell nearly 9% Tuesday after reporting weaker-than-expected quarterly earnings.
October 23rd, 2012
02:52 PM ET

Dow drops 240 to seven-week low

[Updated at 5:46 p.m. ET] The day started off poorly for stocks and never really got better. The Dow Jones industrial average ended up sliding 240 points for the day, putting the Dow at a seven-week low.

The S&P 500 was 1.4% lower also a seven-week low and the Nasdaq was down 0.9%, to an eight-week low.

Check out CNNMoney.com to learn which companies' disappointing earnings reports helped to spur the sell-off.

[Initial post, 2:52 p.m. ET] A rough morning for stocks is now a rough afternoon. The Dow Jones industrial average is down 220 points, with little more than an hour left in the trading day.

Disappointing earnings and forecasts are behind the sell-off. Particularly worrisome for investors was the news that three major U.S. industrial companies missed their earnings targets.  Check out CNNMoney.com for more on what's going on.

Post by:
Filed under: Economy • Finance
soundoff (One Response)
  1. Clyde

    Gosh. I bet folks are gonna be upset.

    October 23, 2012 at 3:19 pm | Report abuse |