NEW YORK (Reuters) - Stocks slumped on Thursday, with the Dow falling to its lowest level since September 2006, on worries about losses by big banks and a plunge in General Motors Corp’s stock to a 53-year low. Disappointing profit outlooks from technology companies, also weighed on the market, briefly sending all three major indexes down more than 2 percent. Oil rose nearly 3 percent on supply concerns, adding to already elevated inflation fears, while data pointed to U.S. labor market weakness. General Motors Corp slumped more than 10 percent to the lowest price since 1955. The plunge dragged down the auto sector as Goldman Sachs cut GM’s stock to “sell,” warning it could have to raise capital and cut dividends in a brutal slowdown for the industry. More
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26 Jun
Dow plunges over 200 pts