Stocks Drop to New Lows

A delay in a possible auto industry bailout vote and more gloomy data on manufacturing and the labor market sent the major indexes down another 5% to 6%

Another day, another new low for the U.S. stock market. Steep losses Thursday pushed major indexes to fresh multi-year lows, with the big-cap benchmark S&P 500 reaching its lowest level since April, 1997. Investors had plenty of news to feed their fears about the health of the economy and the financial sector.

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