Business

Bad nos. drop Dow 243 pts.

US stocks retreated, giving the Dow Jones industrial average its biggest decline since June, amid disappointing results at companies from 3M to DuPont and as commodities erased their gain for the year.

The Dow slumped 243.36 points, or 1.8 percent, to 13,102.53. The Standard & Poor’s 500 Index fell 1.4 percent to 1,413.11, the lowest level since Sept. 5.

Volume for exchange-listed stocks in the US was 6.6 billion shares, or 9.1 percent above the three-month average.

3M, the maker of products ranging from Scotch tape to dental braces, and DuPont, the most valuable US chemical maker, slumped at least 4.1 percent. Freeport-McMoRan Copper & Gold and Halliburton dropped more than 3.1 percent as commodities sank amid concern about a global economic slowdown.

Thirty-three companies in the S&P 500 were scheduled to release results yesterday. Third-quarter sales missed forecasts at 60 percent of companies, according to data compiled by Bloomberg. Earnings at about 70 percent of the index’s companies beat analysts’ estimates, the data showed.

Concern about a worsening of the earnings picture has sent the S&P 500 down 3.6 percent from this year’s high on Sept. 14.

The decline has extended its October loss to 1.9 percent after the index capped four straight months of gains. Still, the index is up 12 percent in 2012 on speculation central bakers will keep economies expanding.