Stocks drop on rescue plan detail worry

Stocks extended losses in the first ten minutes of trading, with the S&P 500 and Nasdaq falling more than 1%, on uncertainty about the workings of the proposed $700 bln financial sector bailout.
Banks led the way lower on the S&P 500 and the Dow. IPod-maker Apple Inc was the top drag on the Nasdaq after its price target was cut by Morgan Stanley.
The Dow Jones industrial average was down 99.00 points, or 0.87%, at 11,289.44. The Standard & Poor's 500 Index was down 15.42 points, or 1.23%, at 1,239.66. The Nasdaq Composite Index was down 28.53 points, or 1.25%, at 2,245.37.