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Wall Street slips early on corporate news, stronger U.S. dollar


    NEW YORK (Reuters) - Wall Street opened lower on Tuesday pressured by negative corporate news, a stronger U.S. dollar and a drop in commodity prices.

    Dow component 3M Co's outlook for the current year came in below analysts' forecasts and McDonald's Corp reported a second straight month of declines in domestic sales, offsetting late Monday news from FedEx Corp , which said its second-quarter earnings would easily beat its previous forecast.

    The Dow Jones industrial average dropped 113.06 points, or 1.09 percent, to 10,277.05. The Standard & Poor's 500 Index fell dropped 11.96 points, or 1.08 percent, to 1,091.29. The Nasdaq Composite Index lost 23.24 points, or 1.06 percent, to 2,166.37.

    (Editing by Padraic Cassidy)