US stocks nosedive after Microsoft shock

Wall Street again succumbed to bad news today, closing sharply lower as more bad news about earnings and worries about the banking industry wiped out any attempts at a rally.

The major indexes, which plunged and then soared in the first two trading days of the week, ratcheted up and down during the session before ending sharply lower. The Dow Jones industrial average fell as much 271 points before ending down 105.