While you were sleeping Alcoa, Chevron drop

Wed, 10 Oct 2012

By Margreet Dietz Oct 11 (BusinessDesk) - Equities slumped after Alcoa slashed its outlook for global aluminum demand and Chevron warned third-quarter profits will not meet expectations, bolstering concern about the impact of slowing economic growth on corporate earnings. Shares of Alcoa dropped 4.5 percent after the company predicted China’s slowing growth will weaken worldwide demand for aluminum. Shares of Chevron shed 4.4 percent after it said third-quarter earnings will be "substantially" lower than in the previous quarter. In afternoon...

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