Markets News Wednesday: Stocks deep in red ink across the globe: Asia-Pacific and Europe slump following grim day in New York

US stocks had a grim day Tuesday, following Citigroup's report of massive subprime-related losses, project delays at Boeing and weak retail-sales data.

The Dow Jones Industrial Average closed own 277.04 points on Tuesday, off 2.2%, at 12501.11. All 30 of its components retreated, led by Citigroup. The Standard & Poor's 500dropped 2.5%, or 35.29 points, to 1380.96a and the tech-dominant Nasdaq Composite Index also fell 2.5%, or 60.71 points, to 2417.59.