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Stocks extend losses on credit concerns

    NEW YORK (Reuters) - Stocks slid on Tuesday, with the Nasdaq and S&P 500 briefly falling more than 2 percent, on concerns about the fast-spreading credit crisis.

    Bank of America shares dropped 17 percent, a day after the bank said it would cut its dividend and raise $10 billion to offset rising loan losses.

    The Dow Jones industrial average <.DJI> fell 144.64 points, or 1.45 percent, to 9,810.86. The Standard & Poor's 500 Index <.SPX> was down 18.21 points, or 1.72 percent, at 1,038.68. The Nasdaq Composite Index <.IXIC> was down 35.92 points, or 1.93 percent, at 1,827.04.

    (Reporting by Kristina Cooke; Editing by Kenneth Barry)

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