Updated from 7:01 a.m. EDT

The magical bailout-to-be may not be enough to prevent a recession. Despite the bill's passing in the Senate on Wednesday evening, stocks plunged on Thursday. The bailout bill is expected to reach the House on Friday.

Thursday's tumble followed the report from the government of a seven-year high in jobless claims. This isn't good, but it's also hard to believe it wasn't expected.

Meanwhile, it's bad news all around for U.S. factories, where economic indicators were all bearish. Industry pundits are reporting that the sharp decline is a direct result of the credit strain, making it difficult for companies to get loans to improve or expand operations.

Stocks leading us down included

General Electric

(GE) - Get Report



(INTC) - Get Report



(RIO) - Get Report




. There were a few bright spots, with


(WB) - Get Report


National City





all spiking.

With this in mind, we thought we'd take a look at some of Thursday's top-searched stocks on


, including


(MOS) - Get Report


U.S. Steel

(X) - Get Report

, and see what Jim Cramer's had to say about them recently.

To find out what Cramer thinks about it all,

visit Stockpckr.com


(Editor's note: At the time of publication and/or original publication of his posts and shows, Cramer owned General Electric for his Action Alerts PLUS charitable trust.)

Stockpickr is a wholly owned subsidiary of TheStreet.com.