GE stock plummets after company accused of fraud

General Electric's stock experienced its biggest one-day percentage drop since April 2008.

The stock decrease came after Harry Markopolos, who is known as the whistleblower in Bernie Madoff's 2008 Ponzi scheme, accused GE of engaging in fraud.

Markopolos claims GE is hiding nearly $40 billion of losses in its insurance business. GE board member Leslie Seidman said the allegations are "baseless" and "inflammatory."

Read more from CNN Business.