Bad economic news squashes stocks


Investors dumped stocks today after a weak retail sales report and lower-than-expected producer price index data showing no inflation. The Dow Jones Industrial Average fell 140 points, or 1.7 percent, to close at 7,918.

Citigroup (C) gained more than any of the Dow's 30 other components, climbing 5.5 percent. Citi apparently benefited from investor optimism after positive earnings news from Goldman Sachs (GS) and Wells Fargo (WFC), though other bank stocks fell. In fact, American Express (AXP) fell 9.9 percent, making it the DJIA's biggest loser.