US STOCKS-Dow slumps as Wal-Mart hammered after weak forecast

miércoles 14 de octubre de 2015 13:08 GYT
 

* Wal-Mart sinks on weak forecast; drags down Dow

* JPMorgan falls, Bank of America rises after results

* U.S. retail sales barely rise in Sept

* Dow down 0.36 pct, S&P up 0.03 pct, Nasdaq up 0.31 pct (Updates to early afternoon)

By Abhiram Nandakumar

Oct 14 (Reuters) - The Dow Jones industrial average retreated sharply on Wednesday as Wal-Mart's weak forecast spooked investors, wiping more than $20 billion off the retailer's market value.

The S&P 500 fluctuated following mixed bank results and disappointing economic data from the United States and China.

"The major theme, not only today but through the balance of the earnings season, is going to be the revisions to fourth quarter and 2016 earnings," said Bill Northey, chief investment officer of the private client group at U.S. Bank.

Wal-Mart sank almost 10 percent to $60.18, poised for its worst one-day performance in more than 17 years, after it forecast a drop of up to 12 percent in earnings per share in fiscal 2017.   Continuación...