5:15PM EST: U.S. stocks dropped for a second day as earnings from Deere & Co. disappointed investors, retail sales declined and Merrill Lynch & Co. said the contagion from the collapse of the subprime mortgage market is far from over.

The S&P 500 lost 3.76, or 0.3 percent, to 1,285.83. The Dow Jones Industrial Average fell 109.51, or 0.9 percent, to 11,532.96. The Nasdaq Composite Index slipped 1.99 to 2,428.62.

(Bloomberg.com)