Stocks Slip

Stocks traded lower on Tuesday. Brands such as Walt Disney, Hewlett-Packard, and Johnson & Johnson led the Dow’s descent by percentage. News that the International Monetary Fund anticipates a deepening global economic slowdown pressured action. The organization now expects expansion of 3.3% in 2012 and 3.6% in 2013, versus prior forecasts of 3.5% and 3.9% respectively. On another note, crude oil futures added $3.06 to settle at $92.39 a barrel. Aluminum maker Alcoa reported quarterly details after the closing bell. Third quarter earnings hit $32 million, or 3 cents a share. Sales totaled $5.83 billion, down from $6.42 billion a year ago.

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