Wednesday Market Wrap-Up: Dow Slides 245 Points

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NEW YORK (AP) — Stocks tumbled today with the Dow industrials now in the red for the new year.

The blue chip index finished with a loss of 245 points at 8,769. Declining issues on the New York Stock Exchange led gainers 4-1, on volume of about 4.4 billion shares. The Nasdaq composite index was down 53 points at the 1,599 level, with roughly 2 billion shares traded. And the S&P 500 dropped 28 points, closing at 906.

More evidence of rising unemployment along with bleak outlooks from Time Warner, Intel and Alcoa, spooked investors, disrupting the orderly market declines that had been seen recently.

Today's losses show the Street remains concerned that th

This program aired on January 7, 2009. The audio for this program is not available.