0.13%SPY 128.17 
0.54%WM 4.65 20.10%
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NEW YORK - Stocks fell early Friday as investors worried that a plan to ease a liquidity crisis at Bear Stearns Cos. indiciates how severe credit troubles have become.
Investors were busy examining a plan from JPMorgan Chase & Co. and the New York Federal Reserve to provide secured funding to Bear Stearns for an initial period of 28 days. The move offers Bear Stearns relief from a sudden liquidity crunch and could help instill confidence in the stagnant credit markets.
Bear Stearns shares fell, dragging down other financial companies.
In the first hour of trading, the Dow Jones industrial average fell 88.25, or 0.73 percent, to 12,057.49.
Broader stock indicators also fell. The Standard & Poor's 500 index fell 7.16, or 0.54 percent, to 1,308.32, and the Nasdaq composite index fell 11.44, or 0.51 percent, to 2,252.17.
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