Among the issues that dogged the market today were another surge in oil prices and warnings of trouble in the key financial, automotive and high-tech industries.
Oil futures closed at an all-time high and General Motors shares plummeted to their lowest level in more than 30 years following negative comments from analysts.
Citigroup fell sharply after an analyst placed a "sell" rating on the stock, while disappointing outlooks from technology leaders Oracle Corporation and BlackBerry-maker Research In Motion made the tech sector one of the steepest decliners.
(Copyright 2008 by The Associated Press. All Rights Reserved.) AP-NY-06-26-08 1613EDT