Bleak Earnings Swamp Stocks

by Chris Sturr | October 22, 2008

Just posted to wsj.com:

By PETER A. MCKAY |

Faltering profits and fears of global recession sent stocks into a spiral Wednesday, nudging major indicators ever closer to their bear-market lows.

The Dow Jones Industrial Average slid for a second straight day, ending down 514.45 points, or 5.7%, at 8519.21, hurt by declines in all 30 of its components. The Dow has tumbled almost 750 points over its two-day slide and now stands about 640 points above its Oct. 10 intraday low, which traders are hoping will hold up as a market trough.

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