The markets plunged Thursday after China's stimulus failed to materialize and the financial sector continued to unravel. The Dow Jones Industrial Average fell 281.40, or 4.09%, to 6,594.44, while the S&P 500 lost 30.32, or 4.25, to 682.55. The Nasdaq dropped 54.15, or 4%, to 1,299.59. Dylan Ratigan, the moderator of CNBC's "Fast Money" TV show, said the materials names rolled over when no word of a stimulus came from China. He also said the market was setting up for a disastrous jobs report on Friday. Pete Najarian, looking for some hopeful signs in the market, saw some stability in General Electric ( GE) from the comments of its chief finance officer who defended the much maligned GE Capital unit, saying it will be profitable in the first quarter and full year. Ratigan, though, was concerned about what he called the "deterioration" of the working assets of JPMorgan Chase ( JPM) and GE. Karen Finerman said the market is telling investors GE is far more vulnerable of the two companies. She said GE Capital has a credibility problem in its attempts to convince the market that it has the wherewithal to survive. Jeff Macke said GE should do a better job of communicating to the public by focusing on what he called its "internal metrics of survival" such as its cash on hand, expenses rate and deficits. Guy Adami intoned a familiar theme of Ratigan's that the market won't stabilize until Wall Street differentiates between those banks that played by the rules and those that didn't. Macke added that the credit rating agencies were an integral part of the problem and need to be abolished.