Jitters Overtake Stocks at Open, Dow Drops More than 200 Points

Jitters are once again taking over the markets. Stocks fell sharply at Wednesday's opening bell. The Dow Industrials dropped more than 200 points. Before the bell, Bank of America (BAC) reported a smaller-than-expected quarterly loss. The bank lost a penny a share in its third quarter. The earnings were affected by charges related to its recent settlement with the Justice Department. Total retail sales in September dropped 0.3%. The producer prices index unexpectedly fell for the first time in over a year. Economists expected PPI to climb 0.1% instead of slipping 0.1% last month. The Empire State manufacturing survey showed a sharp pullback in its latest reading, plunging to 6.2 in October. Falling rates are spurring mortgage activity. Total application volume rose 5.6% last week. The mortgage bankers association says refinancing applications rose 10.6%.