Dow falls 93 points on chip stocks, overseas sell-off


Stocks fell sharply Thursday after a sector downgrade and an overseas sell-off caused skittish investors to grow concerned that the rally has outpaced the potential for future earnings growth.

The blue-chip Dow Jones Industrial Average ($INDU) dropped 93 points, or 0.9%, to 10,334. The broader S&P 500 ($INX) fell 14 points, or 1.3%, to 1,096, while the tech-heavy Nasdaq Composite ($COMPX) shed 36 points, or 1.7%, to finish at 2,157.