( dpa )- US stocks fell further Wednesday, sending the Standard & Poor's 500 Index to a 14-month low, after Intel Corp slashed its sales outlook.
Energy shares lost ground as oil prices retreated to a four-week low. Financial stocks helped prevent a bigger sell-off as JPMorgan Chase & Co's results beat analysts' forecasts.
The S& P 500 fell 7.75 points, or 0.6 per cent, to 1,373.2. The blue-chip Dow Jones Industrial Average fell 34.95, or 0.3 per cent, to 12,466.16. The technology-heavy Nasdaq Composite Index tumbled 23, or 1 per cent, to 2,394.59.
In a global sell-off sparked by fears of a US recession, the S& P 500 has lost 6.5 per cent since January 1, its worst 11-day start to a year, according to Bloomberg News.
Intel, the world's largest computer-chip maker, fell the most in five years after cutting its first-quarter revenue outlook late Tuesday after Wall Street closed. Intel shares ended more than 12 per cent lower on Wednesday for the biggest loss among the 30 Dow industrials.
The US dollar rose to 68.24 euro cents in New York from 67.64 on Tuesday, and to 107.68 Japanese yen from 106.85.
Gold fell 20.60 dollars to 882.00 dollars per fine ounce.