{"id":1175,"date":"2010-10-19T16:23:00","date_gmt":"2010-10-19T16:23:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/dow-sheds-more-than-100-points-as-market-finishes-lower\/1173\/"},"modified":"2010-10-19T16:23:00","modified_gmt":"2010-10-19T16:23:00","slug":"dow-sheds-more-than-100-points-as-market-finishes-lower","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/dow-sheds-more-than-100-points-as-market-finishes-lower\/1175\/","title":{"rendered":"Dow Sheds More Than 100 Points as Market Finishes Lower"},"content":{"rendered":"

The U.S. equity market finished lower as the Dow Jones<\/a> shed 165.07 points. The Dow Jones<\/a> ended the day 1.48% lower at 10,978.62, the S&P 500<\/a> ended the day 1.59% lower at 1,165.90 and the Nasdaq<\/a> ended the day 1.76% lower at 2,436.95.<\/p>\n

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Apple Inc. (NASDAQ: AAPL<\/a>) shares fell in trading today, after the company forecast weaker-than-expected profit for the current quarter. The technology company also reported lower-than-anticipated iPad sales for the fourth quarter. Shares of Apple ended the day 2.67% lower at $309.50, touching an intra-day low of $300.02.<\/p>\n

Shares of International Business Machines Corp. (NYSE: IBM<\/a>) also fell today, after the company reported its third-quarter financial results after market close on Monday. Shares of IBM ended the day 3.59% lower at $137.70, touching an intra-day low of $136.70.<\/p>\n

Bank of America Corporation (NYSE: BAC<\/a>) and Goldman Sachs (NYSE: GS<\/a>) also reported their third-quarter financial results today. Shares of Bank of America Corporation ended the day 4.74% lower at $11.76, touching a 52-week low of $11.71. Meanwhile, shares of Goldman Sachs ended the day 2.42% higher at $157.42 as it beat third-quarter earnings estimate, despite a 40% decline over the previous year.<\/p>\n

Crude oil tumbled in trading today on fears of lower demand as China raised its benchmark interest rates<\/a> to cool down the economy. The strengthening of the U.S dollar also resulted in a drop in crude oil prices. Crude oil for delivery in November dropped 4.3% to $79.49 a barrel on the New York Mercantile Exchange.<\/p>\n

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