GE's Surprise Sends Dow Off 256.56 Points
By Mark Gongloff
Word Count: 480 Companies Featured in This Article: General Electric, Wal-Mart Stores, United Parcel Service, 3M, United Technologies, Intel
General Electric, an economic bellwether, reported disappointing first-quarter earnings, sending its shares tumbling 13% and the broader market struggled. It was GE's worst one-day percentage decline since the stock-market crash of October 1987, dragging the rest of the market with it.
The Dow Jones Industrial Average, which includes GE, fell 256.56 points, or 2%, to 12325.42, the Dow's biggest decline in more than three weeks. The blue chips lost 2.3% for the week and are down 13% from their record in October. Among the 30 stocks in the Dow, only Wal-Mart Stores rose, by 0.3%.
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