The losses were widespread, and stocks that have been the biggest winners on the market the last few years, including technology companies and retailers, suffered steep declines.
Wall Street is hoping that the worst of a brutal correction will soon be over, but today's not looking much better after Wednesday's big plunge. Amazon skidded 6.2 percent to $1,755.25 and Alphabet, Google's parent company, gave up 4.6 percent to $1,092.16.
Luxury retailers tumbled. Tiffany plunged 9.5 per cent to $111.28 and Ralph Lauren fell 7.3 per cent to $118.42.
"Clearly stocks are spooked by higher rates and maybe some inflation that seems to be creeping in", said Michael Farr, CEO of Farr, Miller & Washington.
"As stocks go up, tech goes up more than the stock market".
The Dow Jones industrial average had its second-biggest drop of the year, plunging almost 500 points, or 1.9 percent, shortly after 2:00 p.m.
Some of the biggest losers were tech companies.
The U.S. trade war with China has largely been brushed off by the markets, but the slide shows it may finally be taking a toll. In the previous session, the stock jumped 15 per cent on a Globe and Mail report that Altria Group was in talks for acquiring a stake.
Innes, the Singapore-based head of Head of Trading for Asia Pacific with OANDA, attributed the slide to a combination of factors, including the possibility further interest rate hikes and the battle over tariffs between the USA and China. It has fallen 7.5 percent in just five days.
Many investors now believe that the Federal Reserve's campaign to "normalize" monetary policy, reversing years of extraordinary support that included the quantitative easing bond buying program and keeping its overnight target very low, will push interest rates higher than previously thought. Sears has closed hundreds of stores and sold several famous brands or put them on the block as it sees more customers abandon its stores.
Oil futures fell. US crude gave up $1.27 to $71.90 a barrel.
The dollar index fell 0.17 percent, with the euro up 0.25 percent to $1.1518. In Asia, Tokyo's Nikkei 225 gave up 3.9 per cent and Hong Kong's Hang Seng index shed 3.5 per cent.
The CAC 40 in France dropped 2.1 percent, Germany's DAX lost 2.2 percent and the FTSE 100 in London fell 1.3 percent.
Stocks from emerging markets were also hard hit.
Investors are wary of possible further US interest rate hikes. Brazil's Bovespa lost 2.5 percent and the Merval in Argentina sank 2.2 percent.
The dollar slipped to 112.17 Japanese yen from 112.27 yen late Wednesday.
The euro and sterling rose, underpinned by optimism for a Brexit deal, while the USA dollar lost ground against a basket of currencies even as US yields hovered near multiyear peaks.
Some guests at the hotel in Nusa Dua, south of Bali's main global airport fled outside after the strong tremor shook the building. The country is a particular hotspot for earthquakes as it is located on the Ring of Fire , a 40,000km area in the Pacific Ocean.
We're told Selena is now at an East Coast psychiatric facility and is receiving dialectical behavior therapy - DBT. Insiders revealed to People that Gomez had a "tough few weeks" and suffered a panic attack in the hospital.
The CAC 40 in France dropped 2.1 per cent, Germany's DAX lost 2.2 per cent and the FTSE 100 in London fell 1.3 per cent. Facebook fell 4.1 percent while Netflix and Google parent Alphabet were down 8.4 percent and 5.1 percent, respectively.
Nurmagomedov was hustled out, surrounded by security officers, as a pro-McGregor crowd jeered and threw drinks at him. In the main event for the fight card, Nurmagomedov submitted former champion Conor McGregor in the fourth round.
Tropical Storm Warning:A Tropical Storm Warning is in effect for the Alabama/Florida border to the Mississippi/Alabama border. Energy companies halted almost a fifth of Gulf of Mexico oil production and evacuated personnel from 10 platforms on Monday.
The publication suggests that only the premium version of the possible trio of phones will be equipped with a triple camera setup. The Galaxy A9 has a 6.3-inch full HD AMOLED display that's edge to edge but with narrow bezels on the top and bottom.
The rear cameras are a 13MP f/2.0 main module with a 5MP depth sensor while the front facing camera is a fixed-focus 8MP shooter. In addition to Nokia 6.1 Plus, HMD has said that it will be rolling out the Android Pie update for Nokia 6.1 as well in October.
That makes Michael the third-strongest hurricane to ever hit the United States and the strongest in almost 50 years. Beachfront structures could be seen collapsing and metal roofing materials were blown away amid the heavy rain.
The Fed is going wild. "I mean, I don't know what their problem is but they're raising interest rates and it's ridiculous". On Friday, federal data showed that the USA jobless rate fell to 3.7 percent in September, its lowest point since 1969.
Russian and US space officials said that the crew is heading for an emergency landing in Kazakhstan at an unspecified time. A duo of astronauts from the USA and Russian Federation has blasted off for a mission on the International Space Station .
The Aussie looked solid in the opening set as Klahn - ranked 104 in the world - didn't look overly threatening to Kyrgios' charge. Kyrgios appeared exasperated and distracted at times as American qualifier Bradley Klahn took out the match in three sets.
Verne Troyer’s Cause of Death Revealed
Evil and Austin Powers in the 1999 film Austin Powers: The Spy Who Shagged Me and its 2002 sequel Austin Powers in Goldmember . Troyer was hospitalized earlier that month after a friend found him "extremely drunk, upset and suicidal".
Soyuz crew reportedly alive after emergency landing
But more than a minute after launch, their Soyuz MS-10's booster failed. "An accident with the booster, 2 minutes, 45 seconds". Space officials from both Russian Federation and the USA said the two astronauts endured higher than normal G force.
Seann Walsh: Seann Walsh Speaks About Strictly Scandal
Katya had previously apologised via Twitter, saying: "I'm so sorry about any offence or hurt I may have caused with my actions". Seann, who was in a relationship with Rebecca Humphries at the time, told Zoe Ball: "I'm sorry for the hurt that I've caused".
Swift wins at AMAs, encourages fans to vote
In the song, she sang: 'If a man talks shit, then I owe him nothing / I don't regret it one bit, 'cause he had it coming'. Swift's performance at L.A.'s Microsoft Theater marked her return to an awards show stage slot after a three-year absence.
Updates, tracking resources as storm makes landfall
A Panhandle man was killed by a tree that toppled on a home, Gadsden County Sheriff's Office spokesperson Anglie Hightower said. Michael's minimum central pressure - a key measure of hurricane strength - was measured at 919 millibars when it made landfall.