Earnings Outlook Spooks Investors

By Kevin Spak,  Newser Staff
Posted Apr 7, 2009 8:47 AM CDT
In this Feb. 23, 2009 file photo, specialist Peter Mazza works at his post on the floor of the New York Stock Exchange.   (AP Photo/Richard Drew, file)
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(Newser) – Investors headed for the hills this morning, ahead of a potentially grim earnings season. The Dow tumbled 141 points, while the S&P sunk 2% and Nasdaq 1.6%. As usual, Alcoa will be the first blue chip to report, with results expected by the close today. Its shares fell 5%. Analysts expect the S&P 500 companies to post a first-quarter earnings decline of 37%.