U.S. stocks drop on credit woes; eyes on Senate

NEW YORK (Reuters) - U.S. stocks ended lower on Wednesday as strained credit markets and data showing labour market weakness and contraction in U.S. manufacturing heightened worries about the economy's health.

Investors were nervous before an evening Senate vote on a revamped $700 billion (392 billion pound) rescue plan for the financial sector.

A day after Wall Street scored its best day in six years following Monday's big slide, investors appeared to hedge their bets about how effectively the bank rescue will help avert recession and stem deterioration in profits.

General Electric , seen as an economic bellwether, was among the top decliners, but the stock cut most of its losses as investor Warren Buffett said he planned to pump $3 billion into the diversified manufacturer.

The Dow Jones industrial average fell 19.59 points, or 0.18 percent, to end unofficially at 10,831.07. The Standard & Poor's 500 Index slid 5.30 points, or 0.45 percent, to close unofficially at 1,161.06. The Nasdaq Composite Index declined 22.48 points, or 1.07 percent, to finish unofficially at 2,069.40.

(Reporting by Ellis Mnyandu; Editing by Jan Paschal)