US stocks finished with sharp weekly losses on persistent fears that the government efforts may not be enough to revive the economy and stabilize the financial system.

For the week, Dow was down 430.18 points or 5.2%. S&P fell 44.76 points or 4.8%, while Nasdaq Composite settled with a weekly loss of 57.35 points or 3.60%.

Earlier in the week, stocks tumbled after Treasury Secretary Timothy Geithner outlined the bank plan in his speech. The?Geithner bank plan?wasn't received well by the market as it was found lacking in detail and clarity. Financial stocks plunged after Geithner announced a "comprehensive stress test" for the banks so as to ensure that they come out with a cleaner and stronger balance sheet. As part of the plan, all major U.S. banks with more than $100 billion in assets will be required to undergo a rigorous stress test to determine if they can survive a more severe economic downturn. If they can, they'll be eligible for federal capital.

The U.S. Congress on Friday approved President Obama's $787 billion stimulus bill, aimed at rescuing the economy from deepening recession.

Though retail sales data came as a surprise, other economic data underscored the rapidly worsening outlook in job and housing market. According to Department of Commerce, retail sales unexpectedly rose 1% in January. A release by Department of Labor on Thursday showed number of Americans filing first- time claims for unemployment benefits dropped by 8,000 to 623,00 in the week ending Feb. 7. National Association of Realtors reports that home prices declined a record 12.4% during the fourth quarter of 2008 - the largest decline since the records began in 1979. RealtyTrac Inc., a company that tracks foreclosure data, said that more than 274,000 US homes received at least one foreclosure-related notice in January. A survey released Friday by the University of Michigan and Reuters showed consumer sentiment index dropped in early February to 56.2 from 61.2 in January. Meanwhile, rating agency Moody's Investors Service said the "AAA" credit rating of the United States was "being tested" because of the "shock to their growth model and because of very large, in some cases, contingent liabilities."

Late on Thursday, Wells Fargo & Co (NYSE: WFC), the fourth-biggest U.S. bank, revised the size of its previously reported fourth-quarter loss by 7% to 84 cents from 79 cents because of a new investment losses. Shares of Wells Fargo plunged $1.04 or 6.19% to $15.76.

A number of companies released their quarterly results this week. Viacom Inc. (NYSE: VIA) reported that its fourth-quarter net income plunged to $173 million, or 28 cents a share, from $560 million, or 86 cents a share in the year-ago quarter.

Nvidia Corp.