NEW YORK - Stocks slid further in early trading on Tuesday, with the Nasdaq and the S&P 500 falling more than 4 percent as investors worried the recession is worsening and efforts to stabilize the global financial system may not be working.

New York state manufacturing production fell in February to a record low.

The Dow Jones industrial average <.DJI> fell 268.42 points, or 3.42 percent, to 7,581.99. The Standard & Poor's 500 Index <.SPX> tumbled 34.60 points, or 4.18 percent, to 792.24. The Nasdaq Composite Index <.IXIC> slid 62.17 points, or 4.05 percent, to 1,472.19.

(Reporting by Rodrigo Campos; Editing by James Dalgleish)