Closing Bell: Market slides on grim economic news, bailout jitters; GE, IBM, PBR, MOS, NBR all down

This was another sell-off trading day. Any hopes for a late day rally were met with disappointment. The markets are digesting worse and worse economic news and earnings warnings, and all eyes are watching the House of Representatives tomorrow over the bailout vote. We used a prediction market, and today the bets are still that some bailout bill passes before October 31. The common theme among most stock groups today was easy: selling.

These are today's unofficial closing bell levels, and be advised that official closing bell prints have been coming later and later this week:
DJIA 10,474.41 -356.66 -3.29%
S&P500 1,113.80 -47.26 -4.07%
NASDAQ 1,976.72 -92.68 -4.48%
10YR T-Bond 3.646% (-0.122%)

General Electric Co. (NYSE: GE) was down today with shares down in the last hour after the massive offering. Its secondary raised $12 billion after pricing its secondary at $22.25. Shares were down almost 10% at $22.13 in today's final minutes.

Petro Brasileiro (NYSE: PBR), or Petrobras, was pounded after Citi took it off the Latin American Focus List. Shares were down over 12% at $38.08 in today's final trading minutes.

International Business Machines Corp. (NYSE: IBM) was down over 5.5% at $103.82 today in the final minutes of the day on concerns and continued rumors that the company was likely to miss its earnings expectations.

Mosaic Co. (NYSE: MOS) was thrown out with the baby and bathwater today after the company's earnings were short of estimates and over comments about a slowdown in production. Shares were down almost 40% at $41.00 in the final minutes today.

Nabors Industrial (NYSE:NBR) proved that it isn't immune from the market even as an oil company. It also warned on earnings. Shares were down over 8% at $22.00 in today's final minutes of trading.