U.S. markets fell sharply yesterday on weaker earnings and concerns of Spain are making investors jittery. The DJIA took its worse hit for a single day in 4 months.
After the Dow Jones fell 262 points the index finished at 13102.53, losing over 243 points or 1.8% yesterday. This was its worse single day loss since June 21.
Earnings from DuPont were horrendous as Q3net falls 98%. The company will cut 1500 employees. Two other major Dow components also dragged the index down. 3M lost 4.1% after it reported a 6.&% gain in profit for Q3 but reduced its full year outlook. United Technologies Corp fell on soft demand from airlines and a narrowing sales outlook for 2012.
The S&P broke through its 1420 support level. This has not been broken since early September. The S&P500 lost 20.71 or 1.4% to close at 1413.11. Only 1 of its 11 sectors was in the green.
The NASDAQ 50 lost 26.50 points with Apple Inc. leading the way. Apple slid 3.3% after unveiling a less expensive and smaller IPad.
DISCLOSURE And DISCLAIMER: The Above Is For Informational Purposes Only And Not To Be Construed As Specific Trading Advice. Responsibility For Trade Decisions Is Solely With The Reader.
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US Markets Bleed
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