DEVELOPING STORY: Stocks Tumble Test - - Oklahoma City, OK - News, Weather, Video and Sports |

DEVELOPING STORY: Stocks Tumble Test

Posted: Updated:

Associated Press

NEW YORK -- Wall Street is staging another big retreat as corporate earnings reports fall short of estimates and the British economy officially slipped into a recession.

More on
Track Oklahoma Companie's Stock
More Business Headlines
Related Story: A race against time for recovery plan

The Dow Jones industrial average is down 210 at 7912 in the opening minutes of trading Friday. The Standard & Poor's 500 index is off 21 at 806 and the Nasdaq composite index is down 24 at 1,440.

Many companies continue to report weak quarterly results. Samsung Electronics posted its first-ever quarterly loss. Xerox's profits fell short of analysts' expectations amid weakening sales.

General Electric's results met analysts' expectations, but its profit was at the low end of the company's previous outlook.

Meanwhile, the British government says the country's economy shrank 1.5 percent in the fourth quarter, after contracting in the third quarter. That's another sign that the recession is spreading around the world.

Powered by Frankly
News 9
7401 N. Kelley Ave.
Oklahoma City, OK 73111 is proud to provide Oklahomans with timely and relevant news and information, sharing the stories, pictures and loves of Oklahomans across our great state.
All content © Copyright 2000 - 2018 KWTV. All Rights Reserved. For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.