U.S. stocks dragged lower at the start amid recession worries

Date: Wed, 15 Oct 2008 12:02:23 -0400
U.S. stocks dragged lower at the start amid recession worries

U.S. stocks dropped at the start on Wednesday after data underlined a
recession is likely to come or is already under way, dispelling any
optimism on better-than-forecast results from the Coca-Cola Co., Intel
Corp. and J.P. Morgan Chase.

Crude falls below $75 a barrel on economic jitters, OPEC update

Crude-oil futures plunge 4% in electronic trading, as traders sell amid
worries that the global financial crisis will spell a sharp slowdown in
economic growth and thus pinch energy demand.

International strength boosts Coca-Cola's profit

As Coca-Cola's third-quarter profit rises 14%, fueled by international
growth, investors make shares of the beverage giant one of the few
winners within the Dow Jones Industrial Average. S

Economic Report: Retail sales tumble 1.2%, capping worst quarter in
decade

U.S. retail sales fell 1.2% in September, the worst drop in three years
and the third decline in a row, a further sign that the economy has sunk
into a recession led by an exhausted consumer.

J.P. Morgan Chase profit tumbles; CEO cautions on outlook

J.P. Morgan Chase's third-quarter net income falls 84%, amid the worst
banking environment in about 70 years, and the firm cautions that
earnings would remain weak for several quarters to come. .