May 23, 2013
Global stocks tumble on lackluster earnings, Spain
Global shares slipped on Tuesday after weak US corporate earnings results and downgrades of several indebted regions of Spain raised concerns about the global economy.
US stocks fell, driving the Dow industrials to the biggest drop since June 21, as weak results from index members DuPont and United Technologies showed profit growth is slowing.
The Dow Jones industrial average slid 243.36 points, or 1.82 percent, to close at 13,102.53. The Standard & Poor's 500 Index fell 20.71 points, or 1.44 percent, to 1,413.11. The Nasdaq Composite Index dropped 26.49 points, or 0.88 percent, to end at 2,990.46.
A top European share index slid to its lowest level in more than one-and-a-half months, hit by worries over company results and Spain's debt crisis, and some traders bet on European stocks falling further.
The FTSEurofirst 300 index ended down 1.7 percent at 1,088.71 points - its lowest closing level since ending at 1,079.24 points on Sept. 5.
The euro zone's blue-chip Euro STOXX 50 index also fell 2.1 percent to 2,477.92 points, while the Euro STOXX 50 implied volatility index rose 10 percent, highlighting investors' concerns over the market outlook.