Stocks close: U.S. stocks tumbled Microsoft plunged more than 9% to drag tech

In the early hours of January 28, Beijing time, the U.S. stock market closed down sharply in Tuesday, technology stocks led the decline, Microsoft shares plunged more than 9%, Google, Apple fell more than 3%. Big companies reported lower-than-expected earnings, weak economic data and expected economic slowdown. The Dow Jones industrial average fell 291.49 points, or 1.65%, to 17387.21 at the close of the U.S. stock close (Beijing time January 28), and the Nass Composite index fell 90.27 points, or 1.89%, to 4681.5. The standard and poor 500 index fell 27.54 points, or 1.34%, to 2029.55. On the PLATE: technology, industrial sector decline by the front, the public sector plate rose slightly. "Weak durable-goods orders confirm his forecasts," said Jonathan Golub, chief market strategist at Royal Bank of Canada's capital markets. Our expectations are based on a 2.5% increase in GDP, not a 3% consensus. We think the 2.5% growth is the new benchmark. Colin Cheshensky, chief market analyst at CMC Markets, said the negative impact of the collapse in commodities was in economic data, but the benefits were lagging. "The slowdown has prompted the Fed to raise interest rates a bit further down even to the end of the year," he said. We want to see more layoffs in the energy sector that will cut capital spending. It takes some time for consumers to realize that lower gas prices stay here to open their wallets, "said Nour Al-hammoury, an analyst at ADS Securities," that many bad news drags European equities, such as the UK's growth and corporate earnings, Siemens ' earnings were less than expected to keep investors cautious. In terms of economic data, December 2014 U.S. durable goods orders fell by 3.4%, the fourth time in five months, this performance is far less than economists had expected. Economists on average expected December U.S. durable goods orders to grow by 0.1%, according to a MarketWatch survey of financial sites. December 2014 U.S. new home sales rose 11.6%, to the seasonally adjusted annual rate of 481,000 sets. In December 2014, the average price of new homes in the United States was $298,100, an increase of 8.2% over a year earlier. For the entire 2014 years, the average price of new homes in the United States was $283,600, up 5.5% from a year earlier. The US consumer confidence index rose to 102.9 in January, the highest level since August 2007, compared with 93.1 last December. Economists on average expect January U.S. consumer confidence to be 96.9 points, according to a MarketWatch survey of financial sites. In terms of corporate news, the second quarter's net revenue for the second quarter was $20.161 billion, down 4% from $21.099 billion a year earlier, and the net profit for Procter and Gamble at 2.372 billion dollars, compared with 34 in the same period last year..2.8 Billion dollar slipped 31%. Caterpillar's quarterly and full-year earnings for the year 2014 showed total fourth-quarter sales and revenues of $14.244 billion, down 1% from 14.402 billion dollars a year earlier, and a net profit of 757 million dollars, down 1.003 billion from the same period last year. Pfizer's fiscal 2014 quarter and full-year earnings showed a fourth-quarter revenue of $13.118 billion, down 3% from $13.558 billion a year earlier, and a net profit of 1.228 billion dollars, down 2.568 billion from the same period last year. DuPont released its quarterly results, reporting that DuPont achieved net profit of 683 million U.S. dollars, 74 cents per share, net profit of 0.73 U.S. dollars per share, adjusted and 0.71 U.S. dollars per share, in line with analyst expectations. JPMorgan Chase made 300 million dollars in the Swiss franc storm. With the Swiss central bank announcing the lifting of the franc against the euro, the Swiss franc rose sharply earlier this month, leading both Citigroup and Deutsche Bank to suffer losses of around $150 million trillion. At the same time, many hedge funds were "swept out", while FXCM, America's largest retail-exchange brokerage, had to file for bankruptcy protection and received a bailout from Leucadia. Lockheed Martin's fourth-quarter data were lower than expected. The company's earnings in the fourth quarter, from $488 million trillion a year earlier to $1.50 a share, rose to $904 million, a share of $2.82 trillion, below the average forecast of $2.85 by analysts polled by Thomson Reuters. Revenue grew 8.6% to 12.53 billion dollars. Above analysts ' average expected revenue of 11.89 billion dollars. Dentons, the international law firm, announced in Tuesday that it would merge with China Dacheng law firm to become the world's largest law firm. The new firm will use the name of McKenzie, with more than 6,500 lawyers in more than 50 countries and more than 4,300 lawyers at Baker-'s law firm, becoming the new global first.