US STOCKS-Wall St selloff accelerates amid China, earnings fears

viernes 17 de abril de 2015 15:23 GYT
 

* China action deepens worry of short-selling

* GE, Honeywell blame strong dollar for lower revenue

* Indexes down: Dow 1.8 pct, S&P 1.4 pct, Nasdaq 1.8 pct (Updates to late afternoon)

By Caroline Valetkevitch

April 17 (Reuters) - U.S. stocks fell on Friday afternoon, putting the S&P 500 on track for its biggest daily percentage loss since March 25, as concerns over regulations in China, Greece's debt negotiations and disappointing earnings weighed on sentiment.

Selling was broad based with all 10 major S&P 500 sectors losing ground. The S&P Financials index was down 1.5 percent and the S&P Consumer Discretionary index was off by 1.6 percent.

Both Honeywell International and General Electric blamed the strong dollar for lower revenue. Shares of Honeywell were down 1.6 percent at $102.29, while GE shares were up 0.3 percent at $27.35.

Dow component American Express, the world's largest credit card issuer, was the biggest drag on the index. It fell 4.3 percent to $77.37 after revenue missed analysts' estimates, partly due to the currency impact.

Market participants were also concerned Greece could leave the euro zone as it tries to reform its economy and deal with heavy debt. Greece dismissed reports it needed to tap remaining cash reserves to meet salary payments.   Continuación...