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Wall St falls on weak earnings reports
Tuesday, October 23 15:12:40
U.S. stocks opened sharply lower today as a trio of disappointing earnings from Dow components seemed to confirm concerns about the slow global economy and its impact on corporate results.
DuPont, 3M Co and United Technologies all declined following results. DuPont was off 7.9 percent to $45.85 while United Tech fell 1.7 percent to $76.48 and 3M lost 3.2 percent to $89.98.
The Dow Jones industrial average was down 149.98 points, or 1.12 percent, at 13,195.91. The Standard and Poor's 500 Index was down 13.33 points, or 0.93 percent, at 1,420.49. The Nasdaq Composite Index was down 31.00 points, or 1.03 percent, at 2,985.95.
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