NEW YORK AP-Stocks tumbled and credit markets remained tight Thursday after plunging factor orders and a seven-year high in jobless claims stoked fears that the government’s financial rescue plan might not be enough to ward off a recession. The Dow Jones industrials fell more than 270 points.
Investors appeared to be pulling more money out of the market and settling in for a prolonged economic winter. The main concern is that the $700 billion bailout plan won’t be enough to stimulate growth, and the latest economic reports delivered on Tuesday demonstrate that the economy continues to struggle.
