NEW YORK, Oct 19 (Reuters) - U.S. stocks slumped more than 1 percent at open on Tuesday as results from consumer and technology titans Apple and IBM disappointed investors and raised doubts about the strength of earnings in the third quarter.
A move by China to raise its benchmark one-year lending and deposit rate by 25 basis points, effective Wednesday, also weighed on sentiment.
The Dow Jones industrial average was down 140.24 points, or 1.26 percent, at 11,003.45. The Standard & Poor's 500 Index was down 14.82 points, or 1.25 percent, at 1,169.89. The Nasdaq Composite Index was down 41.75 points, or 1.68 percent, at 2,438.91.