* Alcoa marks biggest percentage fall since 2011
* St. Jude falls after warning on battery flaw in heart
* Apple at 10-month high after Samsung scraps Galaxy Note 7
* Indexes down: Dow 0.82 pct, S&P 0.91 pct, Nasdaq 1.01 pct
(Adds details, comments, updates prices)
By Yashaswini Swamynathan
Oct 11 U.S. stocks fell on Tuesday amid broad
declines across sectors after Alcoa kicked off the earnings
season on a disappointing note.
Alcoa's shares fell nearly 11 percent, their worst
day in five years after the aluminum producer reported quarterly
revenue and profit that fell short of the market's expectation.
All the top S&P 500 indexes were lower, with healthcare
stocks falling the most. Diagnostic test maker Illumina
lost more than a quarter of its value after it cut its
third-quarter revenue forecast for the second time in a row.
Overall earnings of the S&P 500 companies are expected to
fall 0.7 percent in the third quarter, the fifth straight
quarter of decline, according to Thomson Reuters data.
"You are coming up against very low expectations, which means
the bar is already low. If you can't match those expectations,
then investors are going to quickly move to the exit," said Adam
Sarhan, chief executive at Sarhan Capital.
The dollar rose 0.56 percent, marking the second
straight day of gains as investors priced in an 80 percent
chance of a rate hike in December, according to the CME Group's
At 10:59 a.m. ET (1459 GMT), the Dow Jones Industrial
Average was down 149.74 points, or 0.82 percent, at
The S&P 500 was down 19.6 points, or 0.91 percent, at
2,144.06 and the Nasdaq Composite was down 53.89 points,
or 1.01 percent, at 5,274.78.
St. Jude dropped 3 percent in heavy premarket
trading after the company warned that some of its implanted
heart devices are at risk of premature battery depletion, a
condition it said had been linked to two patient deaths.
Rent-A-Center dropped 34.4 percent after the
company estimated third-quarter earnings to fall below analysts'
However, Apple touched a 10-month high after rival
Samsung said it would scrap its Galaxy Note 7 smartphones due to
Declining issues outnumbered advancing ones on the NYSE by
2,337 to 491. On the Nasdaq, 1,984 issues fell and 586 advanced.
The S&P 500 index showed four new 52-week highs and four new
lows, while the Nasdaq recorded 34 new highs and 31 new lows.
(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by