NEW YORK, Nov 12 (Reuters) - U.S. stocks slid on Wednesday as the United States backed away from its initial plan of using the $700 billion bailout to mop up sour mortgages, worsening economic fears sparked by a slashed forecast from Best Buy.
The Dow Jones industrial average fell 357.94 points, or 4.12 percent, to 8,336.02. The Standard & Poor's 500 Index tumbled 41.23 points, or 4.59 percent, to 857.72, after briefly falling 5 percent. The Nasdaq Composite Index lost 70.78 points, or 4.48 percent, to 1,510.12.

(Reporting by Leah Schnurr; Editing by Jan Paschal)

((leah.schnurr@thomsonreuters.com; +1 646 223 6393; Reuters Messaging: leah.schnurr.reuters.net@reuters.com)) Keywords: MARKETS STOCKS/5PCT
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