US STOCKS-Wall St tumbles, hit by weak earnings, China

viernes 17 de abril de 2015 11:40 GYT
 

* China action deepens worry of short-selling

* GE, Honeywell blame strong dollar for lower revenue

* Indexes down: Dow 1.46 pct, S&P 1.11 pct, Nasdaq 1.45 pct (Adds comment, updates prices)

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 clamp-down on margin trading in China and a number of disappointing earnings reports from U.S. corporations.

All ten major sectors posted declines with the S&P Financial losing 1.31 percent and the S&P Consumer Discretionary off by 1.37 percent.

"Today there is a confluence of excuses to move lower. There isn't one single good reason to move higher," said Anastasia Amoroso, global market strategist for J.P. Morgan Asset Management.

Both Honeywell International and General Electric blamed the strong dollar for lower revenue. Shares of Honeywell were down 2.2 percent at $101.66, while GE shares were up 0.5 percent at $27.43.

Dow component American Express, the world's largest credit card issuer, was down 4.7 percent to $77.27 after revenue fell short of analysts' estimates, hurt by currency and the loss of several co-branded tie-ups.   Continuación...