Stocks Tumble

After a cheery beginning to the New Year, stocks took a tumble today on the heels of bad news from metals giant Alcoa and technology bellwether Intel. The Dow fell 245 points to 8769, losing its year opening gains and falling the most in a day in over a month. The S&P 500 fell 28 points to 9.06 and the Nasdaq was down 53 points to 1599. Today's news that the private-sector shed 693,000 jobs in December forced investors to face reality after the New Year's rally, said one analyst. Look for things to remain ugly going forward as a new economic data is released in the coming weeks.