NEW YORK (CNNMoney.com) -- Stocks slumped Monday afternoon, abandoning a rally attempt, as any enthusiasm about Merck's $41 billion purchase of Schering-Plough was overshadowed by ongoing worries about the economy.The Dow Jones industrial average (INDU) lost 62 points, or 0.9%, to about 6,565 nearly 3 hours into the session. On Friday, the Dow briefly touched 6,469.95, the lowest point during a session since April 15, 1997.
The S&P 500 (SPX) index lost 4 points or 0.6%, to about 679. On Friday, the S&P fell to 666.79, its lowest point during a session since Sept. 11, 1996.
The Nasdaq composite (COMP) lost 17 points or 1.3%, to 1,276. On Friday, The tech-fueled index briefly touched 1,268.54, its lowest point since Oct. 10, 2002.
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