Wall St Slides On Automakers, Bank Worries

Section Newest Economic Outlook: OECD's split decision Boeing, P&W sign contracts for engines AM General joins in Army vehicle bidding Australia eyes more Bushmaster vehicles Chile bolsters defense with Boeing program

Text

New York crude oil futures tumble 7.5 percent to around $48.50 per barrel.

U.S. stocks slid on Monday as investors booked profits from a recent rally and following the U.S. government's talk of possible bankruptcy at General Motors and Chrysler.

* Obama administration replaces GM's CEO.

* Spain, Germany and the U.K. act to bolster banks.

* KBW bank index slides more than 9 percent.

* New York crude oil futures tumble 7.5 percent to around $48.50 per barrel.

* The Dow Jones industrial average lost 328.07 points, or 4.22 percent, to 7,448.11. The Standard & Poor's 500 Index dropped 34.92 points, or 4.28 percent, to 781.02. The Nasdaq Composite Index fell 56.39 points, or 3.65 percent, to 1,488.81.

1/5
The Most Read