NEW YORK - Stocks tumbled at the open on Tuesday on concern that the recession is worsening and that efforts to stabilize the stricken global financial system may not be enough.
A report showing that manufacturing production in New York state fell to a record low in February added to worries about the deepening recession among investors already fearful a new U.S. economic stimulus package won't be a quick fix.
The Dow Jones industrial average <.DJI> was down 156.67 points, or 2.00 percent, at 7,693.74. The Standard & Poor's 500 Index <.SPX> was down 22.05 points, or 2.67 percent, at 804.79. The Nasdaq Composite Index <.IXIC> was down 43.34 points, or 2.82 percent, at 1,491.02.
(Editing by James Dalgleish)