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Wall Street extends slide, Nasdaq off 3 percent


    NEW YORK (Reuters) - U.S. stocks slumped on Tuesday, with the Nasdaq falling more than 3 percent, as fears grew that a financial rescue package for Greece might not be enough to prevent a sovereign debt crisis from spreading.

    A drop in semiconductor stocks also pushed the Nasdaq index down as the PHLX semiconductor index fell 4.8 percent.

    The Dow Jones industrial average dropped 248.19 points, or 2.23 percent, to 10,903.64. The Standard & Poor's 500 Index lost 29.76 points, or 2.48 percent, to 1,172.50. The Nasdaq Composite Index fell 80.51 points, or 3.22 percent, to 2,418.23.

    (Reporting by Chuck Mikolajczak)