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US stocks slide as emerging market worries return

January 29, 2014

NEW YORK (AP) — Stocks are lower in early trading as weak earnings from several U.S. companies dented investors’ confidence.

Worries about emerging markets were also coming back after relief faded over an effort by Turkey to shore up its struggling currency.

The Dow Jones industrial average fell 129 points, or 0.8 percent, to 15,798 points in the first few minutes of trading Wednesday.

The Standard & Poor’s 500 index declined 11 points, or 0.6 percent, to 1,781. The Nasdaq composite fell 26 points, or 0.6 percent, to 4,071.

Yahoo fell 8 percent, the most the in S&P 500, after reporting a drop in revenue late Tuesday that disappointed investors.

Boeing and AT&T also fell after reporting their results.

Later Wednesday the Fed will conclude a two-day policy meeting.

Update hourly