AP News

News Summary: Bad day for the market; revenue woes

BY THE NUMBERS: Tuesday was one of the worst days on Wall Street this year. The Dow Jones industrial average shed 243 points. That's not far from its biggest one-day loss this year on June 1, when it shed 274 points.

WHAT WENT WRONG: Investors were spooked after companies like Xerox, 3M and DuPont reported lower revenue for the third quarter, a sign that the overall economy is far from healed.

LOOKING AHEAD: So far this earnings season, 29 companies in the S&P 500 have updated predictions for fourth-quarter results, according to S&P Capital IQ. Of those, 23 lowered their forecasts, and six kept them roughly the same. None said it was expecting things to be better than it already predicted.

The Good Business Issue
blog comments powered by Disqus