Stocks had their biggest decline since October 1987 as recession fears and continuing doubts about the world financial system wiped out most of Monday's historic stock surge.</br></br>The Dow Jones Industrial Average fell 733.08 points, or 7.9%, to 8577.91. It finished fewer than 130 points above last Friday's close, its lowest in five years.</br></br>It was the Dow's ninth-biggest one-day percentage decline in its 112-year history and the biggest percentage drop since a week after the 1987 crash.</br></br>The broad Standard & Poor's 500-stock index fell 9%, its worst percentage decline since it fell 20% on Black Monday in the 1987 crash.</br></br>The decline diminished hopes that stocks had hit bear-market lows on Friday, when the Dow finished its worst week ever down 40% from its Oct. 9, 2007, record close. The Dow is now 39.4% below its record close and off 35.3% in 2008. It has fallen nearly 21% so far this month.