Worst day in eight weeks for Wall St

WALL Street suffered its worst day in eight weeks yesterday, hit by weak earnings, lacklustre economic data and no movement in Washington talks as the deadline for a US default looms.

The Dow Jones industrial average was down 198.75 points, or 1.59 per cent, at 12,302.55. The Standard & Poor’s 500 Index was down 27.05 points, or 2.03 per cent, at 1,304.89. The Nasdaq Composite Index was down 75.17 points, or 2.65 per cent, at 2,764.79.

Earnings disappointments added to ongoing fears about US debts.