Market ends down on China worries, IBM

20/01/2010 - 21:10

NEW YORK (Reuters) - Stocks ended lower on Wednesday and the Dow suffered its worst drop of 2010 due to fears that China's curbs on bank lending might jeopardize the global recovery, while IBM's outlook sparked caution about the technology sector.

Based on the latest available data, the Dow Jones industrial average fell 122.28 points, or 1.14 percent, to end unofficially at 10,603.15. The Standard & Poor's 500 Index was down 12.19 points, or 1.06 percent, to finish unofficially at 1,138.04. The Nasdaq Composite Index was down 29.15 points, or 1.26 percent, to finish unofficially at 2,291.25.

(Reporting by Caroline Valetkevitch; Editing by Jan Paschal)