Fears of deepening recession pushes stocks lower


New claims for unemployment benefits rose more than expected. Alan Greenspan said bank balance sheets still face a yawning chasm of capital that must be filled. And Standard & Poor's warned it might slash the United Kingdom's "AAA" credit rating, raising concerns that a similar move might someday loom for Treasuries. Combined, those pressures pushed the Dow Jones industrial average down 130 points, or 1.5 percent, to 8,292.

Perhaps not surprisingly given the concern that the recession still could get worse before it gets better, Caterpillar (CAT) was the biggest loser among the Dow's 30 component stocks, falling 4.7 percent. Alcoa (AA) followed, posting a 4.1 percent drop.

For more stocks making moves, be sure to check out BloggingStocks' market wrap-up.