(Bloomberg) -- U.S. stocks slid after Countrywide
Financial Corp. reported slumping profits from the housing rout
and analysts said demand for Apple Inc.'s iPhone is diminishing.
Countrywide, the largest U.S. mortgage lender, plunged the
most in almost a year on earnings that missed analysts'
estimates. DuPont Co., the third-biggest U.S. chemical maker,
posted its steepest drop since 2005 after it said demand
weakened for paint and countertops. Concern that the iPhone,
which Apple expects to be its third-largest business, won't meet
forecasts sent the shares to the biggest slide in six weeks.
Read more at Bloomberg Stocks News
Financial Corp. reported slumping profits from the housing rout
and analysts said demand for Apple Inc.'s iPhone is diminishing.
Countrywide, the largest U.S. mortgage lender, plunged the
most in almost a year on earnings that missed analysts'
estimates. DuPont Co., the third-biggest U.S. chemical maker,
posted its steepest drop since 2005 after it said demand
weakened for paint and countertops. Concern that the iPhone,
which Apple expects to be its third-largest business, won't meet
forecasts sent the shares to the biggest slide in six weeks.
Read more at Bloomberg Stocks News
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