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U.S. stocks back in red after Countrywide stumble
Nasdaq Composite poised to extend losing streak into an eighth session

NEW YORK (MarketWatch) -- U.S. stocks fell sharply Tuesday as Countrywide Financial Corp. denied bankruptcy speculation and AT&T Inc. pointed to softness in its broadband and phone line business, pushing the Nasdaq Composite into an eighth day of losses.

"The financials are dragging everything down. This is the largest mortgage originator in the country, trading like it wants to go out of business," said Peter Boockvar, equity strategist at Miller Tabak.