NEW YORK (Reuters) - U.S. stocks slid to 12-year lows on Monday as a record $61.7 billion loss for AIG and another government bailout for the insurer heightened concerns about the extent of damage to the financial system.
* The stocks of companies that have found themselves on the wrong side of President Barack Obama's proposed budget fell again, as biotechs dropped for the fourth straight session.
* The Dow Jones industrial average slid 299.64 points, or 4.24 percent, to end unofficially at 6,763.29. The Standard & Poor's 500 Index fell 34.27 points, or 4.66 percent, to finish unofficially at 700.82. The Nasdaq Composite Index lost 54.99 points, or 3.99 percent, to close unofficially at 1,322.85.
(Reporting by Charles Mikolajczak; Editing by Jan Paschal)
