U.S. Stocks Plunge on Credit Concerns; Exxon, Homebuilders, Banks Retreat

(Bloomberg) -- U.S. stocks tumbled after Exxon
Mobil Corp. reported earnings that missed analysts' estimates
and higher financing costs threatened to spur debt defaults and
slow takeovers.

Exxon Mobil, the world's biggest company by market value,
declined after it said production decreased, while homebuilders
D.R. Horton Inc. and Beazer Homes USA Inc. retreated after
reporting losses. Shares of Citigroup Inc., Bank of America
Corp. and JPMorgan Chase & Co., the three largest U.S. banks,
fell.


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