U.S. Stocks Tumble As Credit Crisis Spreads

NEW YORK -- The Dow Jones Industrial Average plunged by more than 700 points as the U.S. government's $700 billion rescue plan and more Federal Reserve liquidity measures failed to halt a global banking crisis.

In afternoon trading, the Dow fell 712.60 points, or 6.9%, to 9612.78. The last time the Dow closed below 10000 was Oct. 26, 2004, when it closed at 9888.48, and it hadn't dipped below that mark during a session since Oct. 29, 2004.

The Dow is trading at levels that it first crossed during the technology runup in 1999.

"It's the lost decade," said an ...