Dow Plummets 370+

Weak data, quarterly reports contribute to gloom
By Newser Editors and Wire Services
Posted Jan 27, 2015 9:54 AM CST
Traders Gordon Charlop, left, and Peter Tuchman work on the floor of the New York Stock Exchange in this file photo.   (AP Photo/Richard Drew)

(Newser) – It's a miserable day on Wall Street so far, with the Dow plunging more than 370 points about an hour after the open. MarketWatch says one of the driving factors is a weak report on durable-goods orders, which suggests that businesses are worried about a slowdown rather than investing in growth. Also not helping: disappointing quarterly results from a slew of blue-chip companies, reports the Wall Street Journal. The Nasdaq and S&P 500 were down 2.2% and 1.7% respectively.

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