Wall Street extends plunge;
Wall Street extended its 2008 plunge Thursday, tumbling after a regional Federal Reserve report showed a sharp decline in manufacturing activity and as investors feared that downgrades of key bond insurers could trigger further trouble with souring debt.
Wall Street plunged again Wednesday as investors grow increasingly fearful about more turmoil in the financial system even after the government's bailout of insurer American International Group Inc. The market's losses are nearly on pace with those seen in Monday's nosedive and investors are seeking the safety of hard assets and government debt.