Published on 23rd October 2012
Stocks were trading sharply lower Tuesday after a new batch of weak earnings reports from major U.S. companies reinforced fears that the economy remains fragile. The Dow Jones industrial average, down more than 250 points, and the broader Standard & Poor's 500 index were off nearly 2%, while the Nasdaq composite index was off 1.3% in late morning trading. A trend that started off the quarterly earnings reporting season continues: investor disappointment about weakness in sales and revenues, signaling a lack of demand for goods and services. [USA Today]