Dow Jones drops 392 points, Wall Street mixed, euro slips

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NEW YORK, New York – U.S. stocks were mixed Tuesday, with the Dow Jones tumbling while other indices held their ground.

Goldman Sachs earnings disappointed, while Morgan Stanley beat expectations.

“Earnings expectations for Q4 went down quite a bit. It may have set the bar low enough for some upside surprises,” Randy Frederick, managing director of trading and derivatives at Charles Schwab in Austin, Texas was quoted as saying by Reuters on Tuesday.

“Morgan Stanley obviously beat expectations, but then Goldman didn’t. So it’s kind of a mixed bag.”

The Dow Jones industrials dived 391.76 points or 1.14 percent to close Tuesday at 33,910.85.

The Nasdaq Composite rose 15.96 points or 0.14 percent to 11,095.11.

The Standard and Poor’s 500 slipped 8.12 points or 0.20 percent to 3,990.97.

The euro fell sharply Tuesday. However, other currencies firmed against the U.S. dollar.

The euro was last traded in the U.S. Tuesday at 1.0789. The British pound remained strong at 1.2281. The Japanese yen edged up to 128.27. The Swiss franc was steady at 0.9223.

The Canadian dollar edged up to 1.3387. The Australian dollar was in demand at 0.6984. The New Zealand dollar rose to 0.6428.

Internationally, stock markets were mixed. The Paris-based CAC 40 gained 33.85 points or 0.48 percent to 7,077.16.

London’s FTSE 100 slid 9.04 points or 0.12 percent to 7,851.03.

The German Dax added 53.03 points or 0.35 percent to 15,187.07.

In Hong Kong, the Hang Seng declined 169.08 points or 0.78 percent to 21,577.64.

Japan’s Nikkei 225 surged 316.36 points or 1.23 percent to 26,138.68.

In China, the Shanghai Composite dipped 3.35 points or 0.10 percent to 3,224.24.

Singapore’s Straits Times index edged down 3.09 points or 0.09 percent to 3,280.51.

The Australian All Ordinaries let go 7.40 points or 0.10 percent to close Tuesday at 7,597.60.

In Indonesia, the Jakarta Composite gained 79.28 points or 1.19 percent to 6,767.34.

New Zealand’s S&P/NZX 50 advanced 69.76 points or 0.59 percent to 11,881.00.

In South Korea, the Kospi Composite dropped 20.47 points or 0.85 percent to 2,379.39.