US stocks slide early on earnings, overseas woes

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Associated Press

Posted on January 31, 2014 at 9:00 AM

Updated Friday, Jan 31 at 9:02 AM

NEW YORK (AP) — The U.S. stock market is opening sharply lower as investors fret over disappointing earnings and more trouble in overseas markets.

The Dow Jones industrial average dropped 226 points, or 1.4 percent, to 15,625 moments after the market opened Friday. The Standard & Poor's 500 index lost 22 points, or 1.2 percent, to 1,772. The Nasdaq dropped 43 points, or 1.1 percent, to 4,079.

Disappointing results and outlooks from retailers left investors uneasy. Amazon fell 8 percent after it reported earnings that fell short of expectations. Wal-Mart cut its outlook.

Currencies for several countries fell against the dollar as turmoil in emerging markets flared up once again.

It's been a tough January for investors. The Dow is down 5 percent, while the S&P 500 index has lost 4 percent.

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