US stocks continue to plunge

Wall Street extended its 2008 plunge today, tumbling after a regional Federal Reserve report showed a sharp decline in manufacturing activity and as investors grew concerned that downgrades of key bond insurers could trigger further trouble with souring debt.

Each of the major indexes fell at least 2%, including the Dow Jones industrial average, which lost more than 300 points and skidded to its lowest close since last March 16.