U.S. stock slide propels Dow industrials under 7,500

The last few days I have been warning you that a break below November's lows could cause a major stock market selloff. Todays action, especially in the financial stocks may lead to a large decline in the days ahead. Check out the action of some of America's largest financial companies today:

Bank of America 3.93 -.64 -14%

Hartford 7.73 -2.52 -24.57% (insurance in trouble)

Citigroup 2.51 -.40 -13.75%

Prudential 19.02 -3.59 -15.88%

Allstate 18.08 -1.66 -8.41%

General Motors 2.00 -.06 -2.91%

General Electric 10.06 -.49 -4.64% (this scares me)

JP Morgan 20.06 -.91 -4.23 (the government's bank)

U.S. stock slide propels Dow industrials under 7,500

Blue-chip barometer finishes at more than six-years low

NEW YORK (MarketWatch) -- The U.S. stock market's fall on Thursday initially had investors steering clear of three-month intraday lows tested earlier in the week, with the bear-market bottom called by some in November holding -- yet the Dow Jones Industrial Average finished at a more than six-year low.

The Dow Jones Industrial Average sunk 89.68 points, or 1.2%, to end at 7,465.95, with the blue-chip index ending at its lowest level since Oct. 9, 2002.

"I'm not a big support-resistance person, but 7,500 seems to be on everybody's mind; it's a perception problem," said Jack Ablin, chief investment officer, Harris Private Bank.

A close below 7,500 would "worry a lot of armchair investors," Ablin said, ahead of the final bell.

Financials fronted Thursday's declines, with Hartford Financial Services among the hard hit, its stock off nearly 25%.