The Wall Street slides led by financials on Goldman Sachs plans to issue $ 5 bilion common equity; Citi soars on expectation of strong numbers while Intel slides after Q1 profit plunges 55%. US markets ended near their session lows after retail sales unexpectedly dropped in March and as investors remained worried about banks ahead of some key earnings. Retail sales tumbled 1.1% last month. Excluding the volatile auto component, sales fell 0.9%. Retail stocks skidded, with Macy's off 7.3%, JC Penney down 3.5% while Wal-Mart lost 0.8%.
The Dow plunged 137.63 points, or 1.7%, at 7,920.18. The S&P 500 index declined 17.23 points, or 2%, to 841.50, and the NASDAQ composite index fell 27.59 points, or 1.7%, to 1,625.72.
The Dow plunged 137.63 points, or 1.7%, at 7,920.18. The S&P 500 index declined 17.23 points, or 2%, to 841.50, and the NASDAQ composite index fell 27.59 points, or 1.7%, to 1,625.72.
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