U.S. stocks plunge on anniversary of 1987 crash, Dow down 2.6%

4:07 pm ET Oct 19, 2007

DJIA

13,522

-366.94

S&P

1,500

-39.45

NASDAQ

2,725

-74.15

10Yr

4.40%

-0.102

U.S. stocks plunge on anniversary of 1987 crash, Dow down 2.6%

NEW YORK
U.S. stocks tanked Friday - the 20th anniversary of Black Monday - as
panicky investors opted to sell after disappointing earnings from blue
chips Honeywell International Inc., 3M Co. and Caterpillar Inc., along
with crude oil's seemingly incessant rise, fueled worries of economic
trouble ahead.

3M's quarterly net up 7.4% amid tough flat-screen TV market

NEW YORK
3M Co. raised its full-year earnings forecast Friday and reported a 7.4%
increase in third-quarter net income because of robust growth in its
tape and adhesive business, but shares came under pressure due to
difficulties in the flat-screen television business, dropping nearly 7%
at one point.

Honeywell's quarterly profit rises 14%, but margin concerns mount

NEW YORK
Honeywell International Inc. raised its full-year sales outlook Friday
as third-quarter profit jumped 14% due to robust performances in the
blue-chip conglomerate's aerospace and automated control systems
businesses.

Caterpillar profit up 21%; shares down 4.3%

SAN FRANCISCO
Caterpillar shares dropped 5.3% on Friday after the construction
equipment leader, despite posting a rise in third-quarter profit, cut
its 2007 earnings target amid "severe weakness" in its core U.S.
market.

Futures Movers: Crude oil backs off after hitting $90 a barrel

NEW YORK
Crude-oil futures retreated Friday after hitting $90 a barrel for the
first time overnight as continued weakness in the dollar and worries
over supply security helped drive prices higher.