US stocks fall amid disappointing quarterly reports

Stocks have closed sharply lower as a series of depressing economic and earnings reports have raised concerns about the health of the US economy.

Investors are worried that disappointing quarterly results from American International Group and Dell signal more trouble ahead for the economy. A weak reading today on regional business activity has also stirred worries on Wall Street.

The major stock indexes have fallen about 2.5%. The Dow Jones industrial average has closed down about 315 points at the 12,266 level.