Major Markets Close Sharply Lower; Dow Industrials Drop 272 Points

A sell-off on Wall Street Tuesday extended losses into a second straight session. All the major markets lost more than 1.5%.

Author:: Susannah Lee
Publish date:: Oct 7, 2014 4:45 PM EDT

A sell-off on Wall Street Tuesday extended losses into a second straight session. All the major markets lost more than 1.5% as investors worried about how the slowdown in Europe will play out for earnings. The Dow dropped 272 points. Caterpillar (CAT) was the blue chips' worst performer. It was a rough day for other industrials. Deere (DE) tanked along with its competitor AGCO (AGCO). The agricultural equipment manufacturer warned its third quarter earnings will be less than expected. AGCO shares lost more than 10%. Ebola fears crippling air travel pushed carriers lower. Delta (DAL) and American (AAL) fell more than 2%. United Continental (UAL) is down more than 3%. Coca-Cola (KO) shares were a refreshing spot beating the downward trend to post its highest level since 1998. Investors are waiting for earnings season to unofficially kick off tomorrow with Aloca (AA) reporting. Costco (COST) and Ruby Tuesday (RT) are also lined up to post Q3 results.