Wall Street falls hard for second day

FXstreet.com (San Francisco) - The US stocks market declined for second day in row after Cisco Systems ($CSCO) and Wal-Mart Stores Inc. ($WMT) revised lower their forecasts, weighing on consumers’ confidence. Higher borrowing costs after July US inflation figures and renewed Fed taper rumors fueled risk aversion.

The Dow Jones collapsed 225.47 points or 1.47% to end the day at 15,112.19. The S&P 500 declined 24.07 pts or 1.43% to 1,661.32 and the Nasdaq Composite lost 63.15 pts or 1.72% to 3,606.12.