As a friend of mine who is a financial advisor said, GE is America. This company owns so much it's ridiculous. If they're feeling the pain, it's not a good macro sign. Also worth noting that Wachovia, one of the largest banks, needed an emergency cash infusion earlier in the week. -- KM


The US stock market plunged Friday on news that General Electric's first-quarter 2008 profits fell far below the company's projections. Long considered among the most gilt-edged of stocks, GE shares fell 13 percent, their sharpest one-day drop since the stock market collapse of October 1987.

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