US STOCKS-Wall Street tumbles on global economic worries

miércoles 14 de enero de 2015 12:37 GYT
 

* World Bank cuts global growth forecasts

* JPMorgan falls after earnings

* Freeport McMoRan drops on copper weakness

* Retail sales fall short of estimate

* Indexes off: Dow 1.34 pct, S&P 1.08 pct, Nasdaq 0.81 pct (Updates to late morning)

By Chuck Mikolajczak

NEW YORK, Jan 14 (Reuters) - U.S. stocks dropped on Wednesday, putting equities on pace for their fourth straight losing session as a World Bank forecast sparked concerns about weak economies and U.S. retail sales for December missed expectations.

Copper touched its lowest since July 2009 and were last down 5 percent at $5,563 a tonne after the World Bank cut its growth forecasts for this year and 2016. Shares of Freeport McMoRan Inc tumbled 11.8 percent to $18.55 as the worst performer on the S&P 500.

Oil prices remained volatile, struggling to find a floor. Brent crude fell to a low of $45.59 before paring losses to trade down 0.5 percent to $46.35, while U.S. crude was up 0.2 percent at $45.96 after falling as low as $45.01. U.S. crude stocks rose far more than expected last week according to data from the Energy Information Administration.   Continuación...