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After the Bell

U.S. STOCKS SINK AGAIN IN FINAL HOUR; DOW'S DOWN MORE THAN 400, S&P'S OFF ALMOST 7% Date : Friday, November 21, 2008 1:45 AM Stock Informtion: U.S. stocks turned lower after briefly flirting with positive territory in afternoon trading Thursday, after it appeared unlikely Congress would soon approve emergency loans for ailing automakers. Senate Majority Leader Harry Reid said the Big Three automakers must submit a new plan to Congress in order to be considered for U.S. aid. Reid said auto-state senators had reached a compromise plan but that it wouldn't pass the House or Senate. The senators from both sides of the aisle had planned to present their proposal at a mid-afternoon news conference Thursday, according to a report from the Associated Press. "In a normal operating environment, this group being headed for bankruptcy would be manageable but given where we are, a bailout plan may be necessary," said Owen Fitzpatrick, head of U.S. equity at Deutsche Bank. "Bankruptcy is not a body blow that the market could handle at this point."

U.S. STOCKS SINK AGAIN IN FINAL HOUR; DOW'S DOWN MORE THAN 400, S&P'S OFF ALMOST 7%

Date : Friday, November 21, 2008 1:45 AM

Stock Informtion: U.S. stocks turned lower after briefly flirting with positive territory in afternoon trading Thursday, after it appeared unlikely Congress would soon approve emergency loans for ailing automakers.

Senate Majority Leader Harry Reid said the Big Three automakers must submit a new plan to Congress in order to be considered for U.S. aid. Reid said auto-state senators had reached a compromise plan but that it wouldn't pass the House or Senate.

The senators from both sides of the aisle had planned to present their proposal at a mid-afternoon news conference Thursday, according to a report from the Associated Press.

"In a normal operating environment, this group being headed for bankruptcy would be manageable but given where we are, a bailout plan may be necessary," said Owen Fitzpatrick, head of U.S. equity at Deutsche Bank. "Bankruptcy is not a body blow that the market could handle at this point."