US: Wall St tumbles on lackluster earnings, economic data

[NEW YORK] US stock indexes slumped 2 per cent minutes after the open on Wednesday as a record drop in retail sales and dour first-quarter earnings reports lent weight to forecasts for the biggest economic slump since the 1930s.

The Dow Jones Industrial Average fell 349.04 points, or 1.46 per cent, at the open to 23,600.72.

The S&P 500 opened lower by 50.42 points, or 1.77 per cent, at 2,795.64, while the Nasdaq Composite dropped 159.78 points, or 1.88 per cent, to 8,355.96 at the opening bell.

REUTERS