Updated from 3:38 p.m. EST

General Electric ( GE) shares fell to their lowest level since 1991 as concerns over the company's capital levels heated up and the fallout over its dividend cut persisted.

Shares of GE dropped as low as $5.73 Wednesday owing to worries that GE Capital will be required to raise new capital in the near term. The stock reversed some of those losses after the company responded to the speculation, arguing that it has a strong capital position with ample liquidity. The stock closed down 4.6% to $6.69.

"This is pure speculation, is inaccurate and is not based on any input from our company," GE said in a Web site statement. "Currently, we have no plans to raise additional equity. In the unexpected event that GE Capital requires additional equity, we have a number of options to satisfy that need without seeking external capital."

Still, GE was set for its fourth straight losing session, a streak that began late last week after the company said it will cut its quarterly dividend from 31 cents to 10 cents a share beginning with the third quarter. GE said the move, widely expected by analysts and investors, will save it $9 billion annually.

Additionally, concerns over GE's real estate holdings and unrecognized losses have dogged the stock for weeks.

Several other companies were setting new lows in addition to GE. Ambac Financial ( ABK), MGM Mirage ( MGM), Office Depot ( ODP) and Visteon ( VC), among others, set at least 52-week lows on Wednesday.

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