Wall Street falls on dour economic data, corporate earnings; Dow slips 1.8%

US stocks fell on Wednesday as dismal economic data and first-quarter earnings reports compounded concerns over the extent of damage from the coronavirus outbreak.

Shares of Bank of America and Citigroup Inc dropped as they joined JPMorgan Chase & Co and Wells Fargo & Co in reporting a slump in first-quarter profits.

Also, Goldman Sachs Group Inc's quarterly profit nearly halved, as it set aside more money to cover for corporate loans expected to go bust in the coming months.In further evidence of economic damage from the coronavirus, US retail sales plunged 8.7 per cent  in March, manufacturing output dropped