Stocks Get Roughed Up

Updated from 4:10 p.m. EST

Troubling comments from a Federal Reserve official, weak earnings and a plummeting dollar pushed stocks in the U.S. deep into the red Wednesday.

The Dow Jones Industrial Average sank 360.92 points, or 2.64%, to 13,300.02. The S&P 500 plunged 44.65 points, or 2.94%, at 1475.62, and the Nasdaq Composite tumbled 76.42 points, or 2.7%, at 2748.76.

"This was a confluence of oil, subprime and dollar fears all hitting the market at once," said Paul Nolte, director of investments with Hinsdale Associates. "These factors have all been there, but this is the first day they've all been front and center. It seems no one wanted to hold anything overnight, which is why we had this late-session selloff." ...