Alcoa started the first quarter earnings season by disappointing Wall Street, while investors grew more pessimistic on tech firmsStocks fell Tuesday as the first quarter earnings season got off to a disappointing start.
Also, Washington Mutual (WM) said mounting mortgage losses forced it to seek $7 billion in new capital and slash its dividend, while the International Monetary Fund said losses from the mortgage crisis could approach $1 trillion.
Analysts are predicting the recent economic slowdown will make for a gloomy earnings season, and Alcoa (AA), traditionally the first company to report profits, started the quarter with a disappointment.
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