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Weak Earnings Bring the Dow to its Lowest Since June

2012-10-23 10 Dailymotion

<p>U.S. stocks fell on Tuesday after a series of disappointing quarterly results from Dupont, United Technologies and others, while Facebook’s third-quarter results beat expectations and rose after the bell. </p><br /><p>Weak earnings weighed on stocks and the Dow Jones Industrial Average saw its biggest decline since June amid discouraging results from Dupont Co. </p><br /><p>Global shares also fell after weak U.S. corporate results as well as worries of a global economic slowdown as Spain’s economic woes overshadow hopes for a recovery. The euro was lower against most major currencies Tuesday as Spain's borrowing costs jumped after rating agency Moody's Investors Service downgraded five of Spain’s regions.</p><br /><p>The Dow Jones Industrial Average plummeted 243.36 points, or 1.82 percent, to 13,102.53. The S&P 500 Index fell 20.71 points, or 1.44 percent, to 1,413.11. The Nasdaq Composite Index dropped 26.49 points, or 0.88 percent, to 2,990.46.</p>

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