Rough Day On Wall Street: Acadiana Business Index
- The Dow Jones Industrial Average fell 207 points to 11,707.
- Today’s action followed reports that a Wednesday meeting of European Union finance officials was cancelled. The news heightened concerns about whether Europe will be able to sign off on a plan to recapitalize banks, beef up the euro zone's bailout fund and restructure Greece's debt.
It was a mixed bag of corporate earnings:
- Shares of 3M led the Dow lower, falling 6.3%, to 77.04, after missing earnings and revenue expectations.
- DuPont finished down 2.5% to 44.94. The decline came despite the chemical company reporting better-than-expected third-quarter earnings and revenue.
- Texas Instruments posted better-than-expected results, but the company offered a disappointing outlook for the fourth quarter, prompting the stock to drop 2.3%, to 30.97.
- Crude oil spiked up to $93.17 a barrel.
- And Gold closed at $1,700 an ounce.