Stocks tumble on worries about earnings

October 22, 2008 5:08:29 PM PDT
Stocks are ending sharply lower as investors worry that the economy is poised to weaken even as frozen credit markets slowly start to show signs of recovery. [CHECK THE MARKETS: Get the latest numbers from Wall Street]
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Corporate profit forecasts, a jump in the dollar and falling oil prices Wednesday indicate investors are worried that an economic slowdown will sweep the globe.

The major indexes each lost more than 4 percent, including the Dow Jones industrials, which is ending down 560 at the 8,469 level after being down as much as 698 points in the final half hour of trading.

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