Stocks Retreat Ahead of Bailout Vote

Updated from 4:14 p.m. EDT

Stocks in the U.S. finished with steep losses Thursday as weak economic data, new signs of a lending crunch and uncertainty about the upcoming House of Representatives' vote on the bailout plan for financial firms kept buyers away from the market.

The Dow Jones Industrial Average dropped 348.22 points, or 3.2%, to 10,482.85, and the S&P 500 lost 46.78 points, or 4%, to 1114.28. The Nasdaq slipped 92.68 points, or 4.5%, to 1976.72.

After the close of Wednesday's trading, the Senate passed the bailout bill with a 74-25 vote. The House of Representatives had rejected an earlier version of the proposal on Monday, and the stock market responded with one of its worst performances. Among other revisions, the bill passed by the Senate included $110 billion in tax incentives aimed at fostering economic growth. ...