US stocks have opened more than one per cent lower after blue chips Dupont, United Technologies and 3M turned in disappointing quarterly earnings and cut their forecasts.
Five minutes into trade the Dow Jones Industrial Average was down 166.39 points (1.25 per cent) at 13,179.39.
The broad-based S&P 500 sank 16.97 (1.18 per cent) to 1416.85, while the Nasdaq Composite lost 33.28 points (1.10 per cent) at 2983.68.
Dupont sank 6.7 per cent, United Technologies lost 0.6 per cent and 3M fell 3.3 per cent in the opening minutes.
Fighting the selling pressure, longtime laggard Yahoo jumped 3.8 per cent on its strong earnings rise.
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