The Nasdaq fell more than 3 percent on Thursday as investors dumped technology shares after weak profit outlooks from BlackBerry maker Research in Motion and software maker Oracle Corp. The S&P 500 and the Dow also extended losses, as Wall Street powerhouse Goldman Sachs urged investors to sell bank and automaker shares.
The Dow Jones industrial average was down 275.85 points, or 2.34 percent, at 11,535.98. The Standard & Poor's 500 Index was down 31.20 points, or 2.36 percent, at 1,290.77. The Nasdaq Composite Index was down 73.10 points, or 3.04 percent, at 2,328.16.