Gloom Rules Wall Street as Equities Drop to Three-Month Lows

Stocks suffered sharp declines Thursday amid weak jobs data, European debt fears and some disappointing earnings outlooks. Jittery investors scrambled out of equities and commodities and back into safe havens such as Treasurys and the dollar ahead of Friday's key unemployment report.

The blue-chip Dow Jones Industrial Average ($INDU) fell 268 points, or 2.6%, to 10,002, while the broader S&P 500 ($INX) shed 34 points, or 3.1%, to close at 1,063. The tech-heavy Nasdaq Composite ($COMPX) declined 65 points, or 3%, to settle at 2,125.