US STOCKS-Wall St slumps, hit by weak earnings, China
* China action deepens worry of short-selling
* GE, Honeywell blame strong dollar for lower revenue
* Consumer price index up 0.2 pct
* Indexes down: Dow 1.37 pct, S&P 0.96 pct, Nasdaq 1.21 pct (Updates to open)
By Tanya Agrawal
April 17 (Reuters) - Wall Street opened sharply lower on Friday, with the major indexes falling one percent or more, on investor concerns over a clampdown on margin trading in China and a number of disappointing earnings reports from U.S. corporations.
Shares of Honeywell International shares dropped 2 percent to $101.53 after the manufacturer of aircraft climate control systems blamed a strong dollar for a 5 percent fall in revenue.
American Express, the world's largest credit card issuer, was down 5 percent to $76.85 after it reported quarterly revenue that fell short of analysts' estimates, hurt by a stronger dollar and the loss of several co-branded tie-ups.
"Eventually people have to say, 'Ok, forget about the Fed and central bankers nonsense and focus on the fundamentals,' because if the large-caps are coming in with lower-than-expected earnings, then you know that other smaller companies will be in trouble," said Joe Saluzzi, co-manager of trading at Themis Trading in Chatham, New Jersey. Continuación...