Wall Street extended its losses into a second day Tuesday as worries about banks' balance sheets and poor first-quarter earnings reports intensified.

The Dow Jones industrial average dropped more than 150 points while the broader indexes fell more than 1.5 percent.

Word that the International Monetary Fund was set to forecast $4 trillion in bad assets on banks' books added to concerns about the financial industry. Published by The Times of London, the report underscored investors' fears that the U.S. government's recent efforts to purge banks of troublesome loans might not work.

Meanwhile, investors are bracing for the coming flood of first-quarter earnings reports. Aluminum giant Alcoa Inc. will kick off earnings season Tuesday after the close of the market.

Investors have been more optimistic in recent weeks, sending the major indexes up more than 20 percent from 12-year lows in early March on increasingly positive news about the economy. But many analysts have warned that the rally might not be sustainable, especially as first-quarter earnings loom.

In early morning trading, the Dow Jones industrial average dropped 155.07, or 1.9 percent, to 7,820.78. The Standard & Poor's 500 index fell 17.15, or 2.1 percent, to 818.33, while the Nasdaq composite index fell 29.17, or 1.8 percent, to 1,577.54.

Yesterday’s Top Performing SmallCapVoice.com stocks:

Lifespan, Inc.  (Pink Sheets: LSPN) was a SmallCapVoice.com top performer moving up over 25% on trading volume of 231,675 shares.

A New Audio Interview Featuring Gary Campbell, CEO and Founder of Lifespan, Inc., is now at SmallCapVoice.com. The interview can be heard here at http://smallcapvoice.com/blog/4-3-09-audio-interview-with-lifespan-inc-otcpk-lspn/.

The Lifespan Corporation was created to develop and guide feasible, economically viable business projects to a profitable and timely conclusion. Advanced Medical Devices is a project that Lifespan acquired several years ago and has been in development for over 10 years. Developments in technology and the US Healthcare industry have now reached a point where this innovative project is ready for launch. Now, medical practitioners can easily monitor and evaluate their patients by transmitting and receiving important diagnostic clinical data through the Internet, where patients can receive instant evaluation and professional interpretation of their results 24/7.

Today’s SmallCapVoice.com Hot Stock to Watch:

Defense Solutions, Inc. (OTC BB: DFSH)

Defense Solutions, Inc., an international project management firm and a wholly owned subsidiary of Defense Solutions Holding, Inc., reported that it has joined the team producing a NATO-compatible armored personnel carrier, the BTR-4, for the world military and police markets.

According to Defense Solutions' Chief Executive, Colonel Tim Ringgold, US Army (Retired), Defense Solutions will supply export approved American technologies to make this new production armored vehicle NATO-compatible. The BTR-4 will be manufactured in Ukraine and assembled in Macedonia. "Defense Solutions has joined the team because the BTR 4 offers the best price-performance ratio on the market and because both Ukraine and Macedonia are important American allies in the Global War on Terror, having provided soldiers to fight alongside US. forces in Iraq.

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