Tuesday, 25 October 2011 16:54

US Stocks Slump with Europe's Debt Troubles, Poor Corporate Earnings

Written by  Carmen Cox
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Authors: Carmen Cox

US Stocks Slump with Europe's Debt Troubles, Poor Corporate EarningsHemera/Thinkstock(NEW YORK) -- Lower corporate earnings and continued worries about European debt weighed on Tuesday stock prices.
The Dow was down in triple digits, falling more than 100 points in the final hour of trading. The index closed down 207 points.
 
Nasdaq lost 61 points Tuesday, while the S&P gave up 25.
 
There's still no plan to tackle Europe's debt. Two European officials say the main obstacle for resolving the region's debt issue is figuring out how to reduce Greece's massive debts. They'll meet again on Wednesday.
 
Netflix is still feeling the push-back for raising its rates, and it's among the companies whose earnings tanked. Shares of the movie rental company hit an all-time low Tuesday morning -- down more than $43 to just $76.15.
 
Copyright 2011 ABC News Radio

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