Wall St drops further after GE outlook

By IBTimes Staff Reporter | December 15 2009 3:56 PM

U.S. stocks fell further on Tuesday after General Electric Co , a Dow component and an economic bellwether, forecast flat 2010 profit and revenue.

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* Shares of GE fell 1.6 percent to $15.70 on the New York Stock Exchange. The GE news hit a market already rattled by a sharper-than-expected increase in November producer prices and caution ahead of the U.S. Federal Reserve's decision on interest rates on Wednesday.

* The Dow Jones industrial average <.DJI> dropped 59.48 points, or 0.57 percent, to 10,441.57. The Standard & Poor's 500 Index <.SPX> fell 6.77 points, or 0.61 percent, to 1,107.34. The Nasdaq Composite Index <.IXIC> shed 10.01 points, or 0.45 percent, to 2,202.09.

(Reporting by Ellis Mnyandu; Editing by Jan Paschal)