U.S. stocks tumble; Dow drops more than 200 points

Date: Tue, 15 Jan 2008 17:06:04 (GMT)

U.S. stocks tumble; Dow drops more than 200 points

U.S. stocks fall more than 200 points in morning trade, under pressure
from slumping retail sales in December and large losses from Dow
industrials component Citigroup.

Economic Report: Retail sales fall 0.4% in December

WASHINGTON
With sales of cars and gas slowing, retail sales fell 0.4% in December,
the first decline in six months, the Commerce Department reported
Tuesday.

Citigroup swings to loss on $18 bln charge; cuts payout 41%

Citigroup Inc., the nation's largest bank by assets, ended the
suspense on Wall Street over how bad its results would be, reporting its
first quarterly loss since 1998 and slashing its dividend while at the
same time raising more than $12 billion in new capital to bolster its
balance sheet.

Merrill Lynch lines up fresh $6.6 billion cash injection

LONDON
Merrill Lynch & Co. on Tuesday said it has received a $6.6 billion cash
injection from several investors, notably three from the Middle East and
Asia.

Tesco, Hypo Real Estate help drive Europe to a 16-month low

LONDON
European shares slid to 16- month lows on Tuesday, with Tesco and Hypo
Real Estate notable decliners in a day when two more U.S financial firms
revealed further moves to shore up capital positions.