US stocks fall on disappointing earnings and more emerging markets trouble
NEW YORK, N.Y. – U.S. stocks are lower in midday trading as investors fret over disappointing results from Amazon.com and more trouble in overseas markets.
The Dow Jones industrial average fell 89 points, or 0.6 per cent, to 15,759 shortly after 12 p.m. Eastern time Friday. The Standard & Poor’s 500 dropped five points, or 0.3 per cent, to 1,788 and the Nasdaq composite dropped eight points, or 0.2 per cent, to 4,114.
The Dow had fallen down more than 220 points earlier in the day.
Earlier, investors were unnerved by an unexpected fall in eurozone inflation, which showed the recovery is still weak there.
Currencies for several emerging-market countries also fell against the dollar.
In the U.S., Amazon.com fell $36.75, or 9 per cent, to $366.26 after company late Thursday reported results below Wall Street expectations.
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