US STOCKS-Wall St slides on gloomy economic data, bank earnings [Reuters]
JC PENNEY (JCP)
Last jc penney earnings: 2/27 07:30 am
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Source: Reuters
US STOCKS-Wall St slides on gloomy economic data, bank earnings (For a live blog on the U.S. stock market, click or type LIVE/ in a news window) * NY Fed Empire State manufacturing index hits record low * BofA, Citigroup fall as profit slumps * J.C. Penney sinks on report it is considering bankruptcy * Retail sales collapse in March * Indexes down: Dow 2.79%, S&P 2.82%, Nasdaq 1.97% (Adds quote, details; Updates prices) By Medha Singh April 15 (Reuters) - The S&P 500 recoiled on Wednesday from a four-week high, as dire forecasts for the worst economic downturn since the Great Depression were strengthened by a crash in business activity and dismal first-quarter earnings reports. The S&P energy sector slumped 7.3% and was on track for its worst day in nearly a month as oil prices sank after reports suggested persistent oversupply and collapsing global demand. The banking subsector fell 5.8%, as the biggest U.S. lenders set aside billions of dollars to prepare for an expected flood of lo
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