Higher oil prices and sliding consumer confidence sent stocks plunging today as a weak sales report from Wal-Mart Stores Inc. raised concerns about discretionary spending.The Dow Jones industrial skidded almost 185 points.

US stocks posted a modest decline today as a weakening US dollar and a mixed batch of first-quarter earnings reports prompted unsettled investors to cash in on last week’s gains.

Lacklustre earnings reports from Dow Jones industrials General Electric and Citigroup sent stocks nosediving on Wall Street today.

Wall Street’s hopes of prolonging its year-end rally suffered another blow today as cautious traders sold off stocks and the technology sector posted a steep decline.

Stocks fell in the United States today as a gloomy tone was set on Wall Street by Delphi Corporation’s bankruptcy filing and lowered outlooks from Northrop Grumman and Xilinx.