Telecom concerns spark Wall Street sell-off

A bleak earnings forecast from Ericsson brought out more sceptics on Wall Street today, triggering a sharp stock sell-off amid concerns that business isn’t strong enough to justify higher stock prices.

The Dow Jones industrials fell 1.2%, while the Nasdaq composite index lost more than 2.1% of its value. Analysts, noting that trading volume was relatively light, said the market was suffering from investors’ apathy and frustration.