Tuesday's afternoon trade: financial worries, GE push Wall Street lower

US stocks fell in choppy trading on Tuesday, led by a drop in shares of General Electric and lingering worries about the financial sector that derailed an advance spearheaded by technology companies.
Concern about whether a proposed $700 billion financial sector bailout will thaw frozen credit markets or help revive the struggling US economy also weighed on the market even as congressional debate about the plan heated up in Washington.
GE, down more than 4 percent at $25, was a top drag on both the Dow and the S&P 500, after an analyst at Goldman Sachs cut the profit outlook on the diversified manufacturer. Downgrades also weighed on shares of Citigroup, down some 7 percent, and Bank of America, off 4.3 percent, the first and second largest US banks, respectively.
The Dow Jones industrial average was down 157.86 points, or 1.43 percent, at 10,857.83. The Standard & Poor's 500 Index was down 19.61 points, or 1.62 percent, at 1,187.48. The Nasdaq Composite Index was down 23.07 points, or 1.06 percent, at 2,155.91.