Dow Falls 200 on Earnings; DuPont Skids 8%

CNBC ^ | 23 Oct 2012 | JeeYeon Park

[Qbert]

Stocks dropped more than 1 percent across the board at the open Tuesday following a batch of disappointing quarterly results from large multinational companies and amid worries over Spain's economy.

MAJOR U.S. INDEXES

.DJIA 13157.63 -188.26-1.41%

[Snip]

The Dow Jones Industrial Average dropped sharply at the open, after squeezing out a two-point gain in the previous session. All 30 Dow components opened in negative territory, led by DuPont.

The S&P 500 and the Nasdaq also tumbled at the open. The CBOE Volatility Index, widely considered the best gauge of fear in the market, jumped above 18.

All 10 key S&P sectors also slid at the open, led by materials and energy.

DuPont [DD  45.87    -3.89  (-7.82%)   ] slumped sharply after the chemical company reported a profit that fell short of expectations and announced 1,500 layoffs in an aggressive cost-cutting move.

[Qbert]

...Worst Earnings Guidance In Over Five Years:

http://www.zerohedge.com/news/2012-10-22/charting-worst-earnings-guidance-over-five-years

[nhwingut]

-220 right now. The final nail in Obama’s coffin.

[Qbert]

"-220 right now. The final nail in Obama’s coffin."

Close to -250 now.

[Buckeye McFrog]

Only question left is...when does the Plunge Protection Team spring into action?

[hinckley buzzard]

DuPont [DD 45.87 -3.89 (-7.82%) ] slumped sharply after the chemical company reported a profit that fell short of expectations and announced 1,500 layoffs in an aggressive cost-cutting move.

Ordinarily the chemicals sector is one of the leading sectors in a recovery. Looks like no joy on wall street for awhile yet.