Dropping G.E. earnings
General Electric shocked Wall Street on Friday when it reported disappointing first quarter results, reported the New York Times.
The report pushed the Dow Jones industrial average down about 2 percent. The company’s stock fell 13 percent, its biggest single-day lost in two decades.
The inability of General Electric to avoid current market forces emphasizes the global economic crisis. This is because the company has been viewed as a bellwether for the economy because of its varied operations.
The report has created concern for the outlook of other companies.