TAKEOVER STOCKS HIT HARD
LEAD: A late wave of selling swept the stock market yesterday, sending the Dow Jones industrial average down 190.58 points, or 6.9 percent, to 2,569.26. In terms of points, the decline was the second largest in history, exceeded only by the 508-point plunge of Oct. 19, 1987, but the decline in percentage terms was not nearly so bad.