Wall Street drops on poor company results

IndustrialsReuters

Stocks opened sharply lower on Tuesday as a trio of disappointing earnings from Dow components seemed to confirm concerns about the slow global economy and its impact on corporate results.

DuPont , 3M Co and United Technologies all declined following results. DuPont was off 7.9 percent to $45.85 while United Tech fell 1.7 percent to $76.48 and 3M lost 3.2 percent to $89.98.

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The Dow Jones industrial average was down 149.98 points, or 1.12 percent, at 13,195.91. The Standard & Poor's 500 Index was down 13.33 points, or 0.93 percent, at 1,420.49. The Nasdaq Composite Index was down 31.00 points, or 1.03 percent, at 2,985.95.

(Reporting by Ryan Vlastelica; Editing by Kenneth Barry)