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A rare earnings miss by General Electric is rattling investor nerves. Stocks opened down by 1 percent after the economic bellwether said tough conditions in the credit market hurt results at its financial services unit. A weak economy also took a bite out of profits from the company's industrial and health care divisions. Since the corporate conglomerate is considered a gauge of economic conditions, the surprise earnings shortfall could be key to whether the economy is in recession or simply slowing down. Tom D'More is a senior research analyst at Morningstar. SPEAKER: Tom D'More, senior research analyst, Morningstar (english) saying: "Overall it does add to the theory the U.S. economy is slowing down. Although, I would not say it points to a real dramatic slowdown. It points more to continued weakness in areas that people have understood were were weak - housing, autos, tools and appliances." D'More also says GE's miss reflects the difficulty of making profits when costs are rising so fast. But many other analysts on Wall Street are less forgiving, saying the company should have warned investors. Goldman Sachs removed GE from its "Buy List "- saying the first quarter miss raises credibility concerns. And GE shares are being punished - the stock is in the midst of its biggest one-day fall since the stock market crash of October 1987. GE expects a tough road ahead. The company cut its full-year estimates - reflecting fear the credit markets will stay tough and the U.S. economy will continue to falter. Conway Gittens, Reuters