Tuesday, October 23, 2012
The Dow Jones industrial average is down more than 200 points in early trading after weak corporate earnings reports.
3M is reducing its profit expectations for this year because of what it calls "current economic realities." That company makes everything from Scotch tape to coatings for LCD screens and is an economic bellwether.
And chemical maker DuPont will cut 1,500 jobs and take other steps to increase competitiveness after earnings fell sharply last quarter.
The Dow is off 200 points at 13,145. The Standard & Poor's 500 index is down 20 points at 1,414.