NEW YORK (AP) -- Wall Street plunged again and credit markets remained tight after declining factory orders and a seven-year high in jobless claims stoked fears that the government's financial rescue plan might not be enough to ward off a recession.

Shortly before the close, the Dow Jones industrials were down more than 300 points.

Investors appeared to be pulling more money out of the market and settling in for a prolonged economic winter. The main concern is that the $700 billion bailout plan won't be enough to stimulate growth.