U.S. stocks down on Fed official comments

NEW YORK, Oct. 4 (UPI) -- Predictions of a slowing U.S. economy sent stocks into a funk Tuesday on all major U.S. indexes.

The Dow Jones industrial average fell 94.37, or 0.90 percent, to 10,441.11 on a volume of 1.4 billion shares. The Nasdaq composite slipped 16.07, or 0.75 percent, to 2,139.36, and the Standard & Poor's 500 eased 12.23, or 1 percent, to 1,214.47.

Richard Fisher, the Federal Reserve Bank of Dallas president, said in a speech that the U.S. economy's growth was slowing, comments that turned stock traders bearish.

The benchmark 10-year Treasury rose 1/32, or 31 cents per $1,000 invested, to yield 4.385 percent.

The dollar hit 114.16 yen, up from 113.52, as the slipped to $1.1943 from $1.2021.

Tokyo's Nikkei 225 settled up at 13,738.84 after rising 213.56 points, or 1.58 percent, and London's FTSE 100 closed at 5,492 after falling 9.50 or 0.17 percent.