TOP STORIES 
 
US STOCKS TUMBLE, END WITH YEAR'S BIGGEST WEEKLY DECLINES 

Stocks fall sharply, capping this year's biggest weekly declines, after disappointing economic data from China and rising borrowing costs in Spain damp sentiment. DJIA declines 136.99 points to 12849.59.

 
US CONSUMER PRICES RISE 0.3%; CORE CPI UP 0.2% 
 

U.S. consumer-price growth slows a bit in March, as energy inflation decelerates from the breakneck pace earlier this year. Consumer prices rise 0.3%, slightly more than expected but down from February, while core prices rise 0.2%, in line with estimates.

 
JP MORGAN'S REVENUE UP, PROFIT HURT BY LEGAL COSTS 
 

The banking giant's 1Q profit dips to $5.38 billion due to legal expenses and debt-related charges. However, revenue improves 6.3% to $27.42 billion as demand for new loans increases and capital market activity improves. Shares down 1%.

 
WELLS FARGO NET UP 13% ON STRONG MORTGAGE BANKING 
 

Largest U.S. mortgage lender says 1Q profit rises to $4.25 billion, or 75c a share, topping estimates, on better-than-expected revenue growth with help from strong mortgage banking. Credit-loss provisions fall to $2 billion. Shares fall 2%.

 
CHINA GROWTH SLOWS, SOFT LANDING COMPLICATED 
 

China's 1Q economic growth slows to a lower-than-expected 8.1%, as a slowdown in exports and real estate investment complicates China's efforts to guide its economy to a soft landing.

 
BERNANKE STRESSES IMPORTANCE OF REGULATION 
 

The cause of the financial crisis stemmed from breakdowns in markets and regulation, Fed Chairman Ben Bernanke says, leaving the central bank to now closely monitor any spillover effects from the current easy-money policy.

 
SPANISH BANKS' ECB BORROWING HITS NEW HIGH 
 

Spanish bank borrowing from the ECB surges to new highs in March, the latest sign that skittish international investors have left the euro zone's fourth-largest economy at the mercy of ECB funding.

 
GOLDMAN SACHS CEO'S 2011 PAY VALUED AT $12M 
 

Goldman Sachs Chairman and Chief Executive Lloyd Blankfein's total compensation for 2011 falls 35.5% to $12 million as the securities firm has its least profitable year since the depths of the financial crisis.

 
TREASURY TO DELAY CURRENCY REPORT 
 

The Treasury Department says it will delay the publication of its semi-annual currency report to Congress until after upcoming diplomatic talks with China and next week's meeting of the International Monetary Fund.

 
US WANTS TO QUESTION INCOMING J&J CEO IN KICKBACK CASE 
 

Justice Department asks a federal judge to compel incoming Johnson & Johnson CEO Alex Gorsky to undergo questioning as part of a lawsuit accusing J&J of paying illegal kickbacks to a nursing-home pharmacy operator.

 
GROUPON REPLACES INTERNATIONAL CHIEF 
 

Online-coupon provider names Austrian Veit Dengler senior vice president of international operations, tapping new blood to head its overseas business that already accounts for well over half of Groupon's revenue.

 
 
 
 
  ======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES ======= 
 BIG PICTURE 
 Looks Can Be Deceiving On Growth And Inflation 

When Federal Reserve officials meet April 24-25 to set policy, investors and economists expect that one big topic will be another round of quantitative easing, or QE3, writes Kathleen Madigan.

 ANALYSIS 
 Bank Results Suggest Mortgages Are On Mend 

In the kick-off to a week of first-quarter bank earnings reports, results from two industry heavyweights -- J.P. Morgan Chase and Wells Fargo -- show strong gains in their mortgage lines, Christian Berthelsen writes.

 
  ============ U.S. MARKETS ACTION =========== 
DJIA           down 136.99 points to 12849.59 
NASDAQ         down 44.22 points to 3011.33 
S&P 500        down 17.31 points to 1370.26 
10-year T-note 100 03/32 at 1.9861 yield 
NYMEX Crude    down $0.81 at $102.83/bbl at close 
Dollar/Euro    down 0.1060 at 1.30800