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FBN’s Robert Gray with an afternoon market update and news that Philip Morris slashed its earnings outlook for 2012.
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I'm Robert Gray -- your Fox Business brief the sharp sell -- on Wall Street continues.
Around a disappointing reports on the US economy plus global manufacturing.
Weighing heavily on the markets today right now the Dow is down more than 200 points.
A loss of one and two thirds percent.
First time jobless claims remain higher than economists expected 387000.
People filed for first time benefits.
The slight drop was not enough to indicate a pick up in hiring the -- moving average -- smooth out volatility rose to its highest level since December.
And investors are bearish ever Philip Morris after the company slashed its earnings outlook for 2012.
The tobacco companies sites movements in foreign exchange rates for the lowered forecast.
But the outlook still called for -- -- ten to 12% compared to 2000 elevenths full year results.
And that is the latest from the Fox Business Network giving -- the power to prosper.
