Buffett to Invest $3 Billion in G.E.

Warren E. Buffett is again buying into the bluest of blue-chip companies — at a steep price.

This time, the famed investor is buying $3 billion in perpetual preferred stock from General Electric, the massive conglomerate seeking to allay concerns about its financial health amid the whipsawing markets.

G.E., whose latest troubles spring from its massive financial operations, also said that it will sell at least $12 billion of common stock.

The move is the latest investment by Mr. Buffett amid the financial clampdown. Last week, the famous investor bought $5 billion in perpetual preferred stock in Goldman Sachs, the financial giant that has recently transformed itself into a bank holding company.