US STOCKS-Market falls on auto bailout woes

* Automakers plunge on bailout worry

* GM, Ford shares drop; investors snap up defensive stocks

* Dow off 2.3 pct, S&P 500 off 3.1 pct, Nasdaq off 3.3 pct

* For up-to-the-minute market news, please click on [STXNEWS/US]

(Updates to midday, changes byline)

By Charles Mikolajczak

NEW YORK, Nov 19 (Reuters) - U.S. stocks tumbled on Wednesday as dimming hopes for a rescue of the U.S. auto industry added to concerns about the deepening economic downturn.

Shares of General Motors (GM.N) fell nearly 14 percent to $2.66, hitting an intraday low of $2.52, a level not seen in over 60 years. Ford (F.N) slumped 17 percent as investors fretted about the possibility that there will be no quick proposal from Congress to resolve the problems plaguing the industry before its session draws to a close.

U.S. auto executives from GM, Ford and Chrysler warned Congress on Tuesday that their industry was teetering on the brink of disaster as they pleaded for a $25 billion aid package despite political opposition to another multibillion-dollar government bailout. [ID:nN18548335] More hearings before a House committee are planned for Wednesday.