NEW YORK — Wall Street stumbled Friday after a disappointing first-quarter report from General Electric Co. surprised the market and stoked concern about the health of both corporate profits and the wider economy. The major indexes fell more than 2 percent, with the Dow Jones industrials giving up more than 250 points.

A weaker-than-expected reading showing consumer confidence at a 26-year low subdued any positive sentiment.

GE, which is regarded as a bellwether of big business, said its financial-services divisions have been challenged by the slowing U.S. economy and difficult capital markets. The company, whose orbit extends into entertainment, consumer and industrial manufacturing, finance and health care, also lowered projections for the entire year.

The conglomerate is one of the early companies to post first-quarter results and its shortfall stirred worries that others still to report will paint a similarly dreary picture. The smaller-than-expected profits from GE injected anxiety into a market that earlier this week saw disappointing results from aluminum producer Alcoa Inc. and a warning from chip maker Advanced Micro Devices Inc.

"The market really is focusing on the extent to which problems in the credit markets are spilling over into the real economy," said Brian Gendreau, investment strategist for ING Investment Management in New York.

According to preliminary calculations, the Dow fell 256.39, or 2.04 percent, to 12,325.59. GE was by far the steepest decliner among the 30 stocks that comprise the Dow. The stock dropped $4.70, or 12.8 percent, to $32.05.

Broader stock indicators also registered sizable losses. The Standard & Poor's 500 index fell 27.70, or 2.04 percent, to 1,332.85, and the Nasdaq composite index fell 61.46, or 2.6 percent, to 2,290.24.