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Empresas y finanzas

S&P 500 sinks below 700 in Wall St rout

    NEW YORK (Reuters) - U.S. stocks extended losses heading toward the close on Monday, taking the benchmark S&P 500 briefly below the 700 level for the first time since October 1996.

    * Another government bailout of American International Group and the insurer's record $61.7 billion quarterly loss raised fears that efforts to stem the financial crisis still are not enough.

    * The Dow Jones industrial average <.DJI> was down 291.59 points, or 4.13 percent, at 6,771.34.

    The Standard & Poor's 500 Index <.SPX> was down 33.09 points, or 4.50 percent, at 702.00.

    In the last half hour of regular trading, the S&P 500 hit an intraday low of 699.70 -- its lowest since October 1996.

    * The Nasdaq Composite Index <.IXIC> was down 52.54 points, or 3.81 percent, at 1,325.30.

    (Reporting by Ellis Mnyandu; Editing by Jan Paschal)

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