By Scott Malone 49 minutes ago BOSTON (Reuters) - General Electric Co (GE.N) slashed its profit forecast on Thursday, warning that the turmoil in global credit markets could drive its earnings down as much as 12 percent.The news confirmed Wall Street's fears that the credit crunch would hammer GE's finance arm. Investors had sold the stock heavily over the past two weeks, sending its shares to five-year lows and cutting its market value by 33 percent for the year.
The shares fell 5 percent in early trading, but remained above last week's low of $22.16.
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