US stocks sink

The US bourse is set to open higher as European leaders get ready to meet.

The US bourse is set to open higher as European leaders get ready to meet.

Published Jan 31, 2014

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New York - US stocks opened sharply lower Friday amid persistent worries over emerging market economies and a handful of earnings disappointments by US companies.

Six minutes into trade, the Dow Jones Industrial Average tumbled 194.65 (1.23 percent) to 15,653.96.

The broad-based S&P 500 fell 19.60 (1.09 percent) to 1,774.59, while the tech-rich Nasdaq Composite Index declined 41.64 (1.01

percent) to 4,081.48.

The US losses map the deep falls in European markets as global financial turbulence continues unabated.

Investors also punished companies with disappointing earnings and earnings forecasts, pushing Amazon, Chevron and Walmart lower. - Sapa-AFP

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