The energy sector also dropped after International Energy Agency downgraded global demand for this year and 2009.

Chesapeake Energy Corporation (NYSE: CHK):

On Friday at 11:14am ET, the Oklahoma City-based natural gas development company was slipping by 29.31 percent or $5.19 at $12.52, with a new 52-week low of $12.48 from its previous low of $17.09. It has a dividend yield of 2.38 percent. The market analysts are expecting the firm to post lower profits as credit crunch and sinking oil rates threaten the company's growth. The firm recently decided to slash 17 drilling rigs by the end of the year.

The Procter & Gamble Company (NYSE: PG):

Earnings and sales revenues of the consumer products maker are hurt by lowering consumer spending. The Cincinnati, Ohio-based company recently had announced that it started an exchange offer for P&G common stock, which is related to its earlier announcement of consolidating its Folgers coffee business with J.M. Smucker Company (SJM). The all-stock deal is worth $3.3 billion. Shares of the company were recently moving down by $3.22 or 5.29 percent to $57.66, with a new 52-week low of $54.92 from its previous low of $60.05.

Johnson & Johnson (NYSE: JNJ):

The company, a Dow component, hit a fresh 52-week low at $52.06 from the previous low of $57.58; shares were trading lower by $2.13 or 3.70 percent to $55.45 at 11:37am ET in New York. The world's most diverse maker of health care products is expected to report third quarter earnings on Tuesday morning. The market analysts on Wall Street are expecting the company to post higher net profit in the quarter with earnings-per-share of $1.11 and revenue of $15.7 billion, compared to 88 cents per share earnings and revenue was $14.97 billion reported a year ago during the same period.

Altria Group Inc (NYSE: MO):

The Richmond, Virginia-based company has showed signs that its earnings are affected by the fallout from financial crisis. It recently announced to delay in the completion of its agreed takeover of UST Inc. until early next year as recommended by its lenders. The acquisition deal is worth $10.3 billion. The owner of cigarette maker Philip Morris USA Inc. is being supported by Goldman Sachs Group Inc. and J.P. Morgan Chase & Co.