(Updates with House rejecting bill)
NEW YORK, Sept 29 (Reuters) - U.S. stocks plunged on Monday, pushing the Nasdaq down more than 7 percent at one point, after the U.S. House of Representatives rejected a proposed $700 billion plan to stabilize the U.S. financial sector and repair the credit crisis.
The Nasdaq was on course for its biggest one-day percentage drop since the market reopened after the Sept. 11, 2001 attacks. The S&P financial index .GSPF tumbled more than 8 percent.
The Dow Jones industrial average .DJI was down 523.77 points, or 4.70 percent, at 10,619.36. The Standard & Poor's 500 Index .SPX was down 73.90 points, or 6.09 percent, at 1,139.11. The Nasdaq Composite Index .IXIC was down 146.87 points, or 6.73 percent, at 2,036.47. (Reporting by Ellis Mnyandu; Editing by Kenneth Barry)
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