Midday Leaders & Laggards: DJIA

The blue chip index tumbled 140.29 points, or 1.16 percent, to 11,922.80 on negative news from the financial sector. Oil prices also climbed after Pentagon officials said a recent Israeli military exercise may have been intended as a demonstration of that country's capabilities to attack nuclear facilities in Iran.

GM stock fell 69 cents, or 4.7 percent, to $14.10 at midday. The stock earlier traded as low as $14.05, its lowest price since 1982.

Ford Motor Co. cut production and delayed the rollout of the new F-150 pickup by two months because of weakening consumer interest in pickups and SUVs. The company also said its automotive financial results will be weaker in 2008 than they were in 2007.

Thursday afternoon, aluminum maker Alcoa Inc. said it will temporarily halve production at a smelter in Rockdale, Texas, because of power supply interruptions. The stock fell $1.12, or 2.9 percent, to $38.

Shares of home improvement retailer Home Depot Inc. slipped 80 cents, or 3 percent, to $26.38.

Only two of the 30 Dow stocks moved higher, with Coca-Cola Co. adding 36 cents to $53.72. Shares of oil and gas company Chevron Corp. gained 14 cents to $97.