The following is an excerpt from MATT JARZEMSKY | October 10, 2012 | WSJ.com |
NEW YORK—U.S. stocks slumped, sending the Dow industrials toward a second-straight triple-digit drop, as outlooks from industrial, commodity and energy heavyweights added to concerns about a global economic slowdown.
AA -4.60% The Dow Jones Industrial Average gave up 131 points, or 1%, to 13343 in late-afternoon trading, a day after posting its biggest daily decline in nearly six weeks. Alcoa led the benchmark lower, after cutting late Tuesday its current-year global aluminum demand forecast on slower Chinese growth.
The Standard & Poor’s 500-stock index dropped nine points, or 0.6%, to 1433. Energy and materials shares led declines. The Nasdaq NDAQ +1.07% Composite Index dropped 14 points, or 0.5%, to 3051.
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