U.S. stocks fell on Tuesday after a series of disappointing quarterly results from Dupont, United Technologies and others, while Facebook’s third-quarter results beat expectations and rose after the bell.
Weak earnings weighed on stocks and the Dow Jones Industrial Average saw its biggest decline since June amid discouraging results from Dupont Co.
Global shares also fell after weak U.S. corporate results as well as worries of a global economic slowdown as Spain’s economic woes overshadow hopes for a recovery. The euro was lower against most major currencies Tuesday as Spain's borrowing costs jumped after rating agency Moody's Investors Service downgraded five of Spain’s regions.
The Dow Jones Industrial Average plummeted 243.36 points, or 1.82 percent, to 13,102.53. The S&P 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 2,990.46.
