Dow Posts Largest Percentage Drop Since July
Filed under: Alcoa, Chevron, Market News
By Rodrigo Campos
NEW YORK, Oct 10 (Reuters) – The S&P 500 fell for a fourth day on Wednesday, weighed down by disappointing news from Chevron (CVX) and Alcoa (AA) as earnings season got under way.
Chevron shares dropped 4.2 percent to $112.45 after it said third-quarter profits would be “substantially lower” than the previous quarter, while Alcoa fell 4.6 percent to $8.71 after it posted a quarterly loss. The company cut its outlook for global aluminum demand, citing a slowdown in China.
…
Dow Posts Largest Percentage Drop Since July originally appeared on DailyFinance.com on 2012-10-10T17:10:00Z.
Permalink | Email this | Comments
http://www.dailyfinance.com/2012/10/10/dow-largest-drop-since-july-chevron-alcoa/