Wall Street indexes down as Bear bails out fund

US stocks extends decline as financial sector slumped after Bear Stearns Cos Inc said it bailed out a hedge fund that is facing margin calls.

US stocks extended declines on Friday, dragged lower by the heavily weighted financial sector slumped after Bear Stearns Cos Inc said it bailed out a hedge fund that is facing margin calls.

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The Dow Jones industrial average was down 116.57 points, or 0.86 per cent, at 13,429.27. The Standard & Poor's 500 Index was down 14.56 points, or 0.96 per cent, at 1,507.63. The Nasdaq Composite Index was down 26.83 points, or 1.03 per cent, at 2,590.13.