Stocks Slide on Grim Earnings

By Kevin Spak,  Newser Staff
Posted Apr 22, 2009 8:43 AM CDT
A pair of Barclays Capital specialists work on the floor of the New York Stock Exchange Tuesday, April 21, 2009.   (AP Photo/Richard Drew)
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(Newser) – Stocks headed lower at the open today, thanks to another round of dour corporate earnings. The Dow fell 44 points, while the S&P and Nasdaq dropped 0.9% and 0.8% respectively. Morgan Stanley tumbled more than 8%, after reporting a quarterly loss, and slashing its dividend. Wells Fargo, on the other hand, reported a 52% income jump, but its shares were still off 2%. In a bad sign for consumer credit, Capital One reported a loss, sending shares down 8%.