Dow plunges 391 points

By: JeeYeon Park, CNBC.com

Stocks came off their worst levels, but still finished sharply lower Thursday in heavy-volume trading as a gloomy outlook from the Federal Reserve in addition to ongoing economic jitters fueled concerns of a recession.

The Dow Jones Industrial Average plunged 391.01 points, or 3.51 percent, to finish at 10,733.83, led by United Tech [UTX 68.31 -6.56 (-8.76%) ], Caterpillar [CAT 73.90 -5.46 (-6.88%) ] and Alcoa [AA 10.11 -0.73 (-6.73%) ], but still finished above its August closing low of 10,719.94. The blue-chip index skid 528 points in its intraday low.

The blue-chip index is on track for its worst week in almost three years.

The S&P 500 plummeted 37.20 points, or 3.19 percent, to close at 1,129.56 after flirting with its key technical support level of 1,120. The Nasdaq declined 82.52 points, or 3.25 percent, to end at 2,455.67.

The CBOE Volatility Index, widely considered the best gauge of fear in the market, soared above 41.

All 10 S&P sectors finished firmly in the negative territory, led by materials and energy.

To read more, visit:  http://www.cnbc.com/id/44624491

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