Closing Bell: Procter & Gamble Commits to $10B in Cuts; U.S. Stocks Fall

The breakneck rallies that have characterized trading since last week came to an end as stocks ended modestly lower on Thursday. Wall Street was dragged down by renewed worries over crude oil and disappointing earnings from Walmart (WMT). Nvidia (NVDA) surged after breezing past earnings estimates in its recent quarter. The semiconductor company also issued positive sales guidance driven by strong demand for specialist graphic chips which offset weaker PC growth. Citigroup (C) is reportedly looking to exit its retail banking business in Argentina and Brazil. The bank has hit a rough patch in the regions, particularly in Brazil which is currently suffering its second year in recession. TheStreet's Keris Lahiff reports from Wall Street.