NEW YORK (Reuters) - Stocks fell on Wednesday as fear about frozen credit markets and the U.S. economic outlook overshadowed news that investor Warren Buffett plans to pump $3 billion into General Electric.
Shares of conglomerate GE, which earlier had fallen more than 8 percent, pared losses on the news of the cash injection, but the boost soon tapered off. Shares were down 3 percent at $24.60.
The Dow pushed into the black briefly but quickly retreated as investors focused on credit concerns and the U.S. economy ahead of a Senate vote on a revamped $700 billion financial rescue plan.
The Dow Jones industrial average was down 52.41 points, or 0.48 percent, at 10,798.25. The Standard & Poor's 500 Index was down 9.44 points, or 0.81 percent, at 1,156.92. The Nasdaq Composite Index was down 26.74 points, or 1.28 percent, at 2,065.14.
(Reporting by Steven C. Johnson; Editing by Kenneth Barry)
