Wall Street stumbled Friday after a disappointing first-quarter report from General Electric surprised the market and stoked concern about 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 damped any positive sentiment.

G.E., which is regarded as a bellwether of big business, said its financial services divisions had been challenged by the slowing American economy and difficult capital markets. The company, which has units in entertainment, consumer and industrial manufacturing, finance and health care, also lowered its projections for the entire year.

The shortfall at the conglomerate, which is one of the early companies to post first-quarter results, stirred worries of more similarly dreary pictures. This week, the aluminum producer Alcoa reported disappointing results and the chip maker Advanced Micro Devices issued a profit warning.