Wall St slips on weak GDP data; Dow down 205 points

In the US markets, stocks took a hit on former Fed Chairman Alan Greenspan's bearish remarks. In fact, the Dow lost nearly 200 points intraday,the tech heavy Nasdaq was under pressure following disappointing earnings and a worrisome jump in jobless claims. It was a weak session also on account of weak second quarter GDP data.

The Dow plunged 205.67 points, or 1.78%, to 11,378.02. The Standard & Poor's 500 index declined 16.88 points, or 1.31%, to 1,267.38, while the Nasdaq lost 4.17 points, or 0.18%, to 2,325.55.