US STOCKS-Wall St declines on China fears, weak profit expectations

martes 13 de octubre de 2015 16:38 GYT

* Chinese imports fall 20 pct in September

* Biotechs fall, leading decliners among S&P 500 sectors

* Indexes down: Dow 0.3 pct, S&P 0.7 pct, Nasdaq 0.9 pct (Updates to close)

By Caroline Valetkevitch

Oct 13 (Reuters) - U.S. stocks fell on Tuesday, with the Dow snapping a seven-day winning streak, on renewed fears of slowing growth in China and another bout of selling in biotech shares.

Biotechs led the S&P 500 and Nasdaq lower and the S&P health care index, down 1.2 percent, had the biggest losses among S&P sectors, followed by industrials, down 1.2 percent. The Nasdaq Biotech Index was down 3.2 percent, extending recent declines.

Worries about third-quarter earnings reports continued to weigh on sentiment. S&P 500 companies are expected to report a nearly 5 percent fall in profit, the biggest decline in six years, according to Thomson Reuters data.

"There's a little nervousness about earnings reports that we'll be seeing over the next couple or three weeks," said John Carey, portfolio manager at Pioneer Investment Management in Boston.

"The international situation continues to weigh on people's minds, and commodities were weaker earlier. In the absence of any strong new economic data or blow-away type earnings results, people are still cautious, waiting for the Fed to decide on whether it's going to raise rates or not," he said.   Continuación...