Stocks fell sharply extending a slide that began late on Wednesday and halted a partial rebound from Monday's brutal sell-off. The Dow Jones industrial average dropped 100.15 points - or 1.3 per cent - at 7,682.22 as a spurt of bargain hunting trimmed a 203-point deficit over the final half hour. Broader indicators also recovered partially before the close after sliding hard before a pre-holiday session that many investors may skip.

The market swung higher and lower throughout the session, which was ushered in by another day of sharp losses in European markets. The Standard and Poor's 500 fell 8.21 to 982.26, and the technology-heavy Nasdaq composite index fell 20.99 to 1,571.86. Declining issues outnumbered those advancing by a 2-to-1 margin on the New York Stock Exchange, with 1,019 up, 2,114 down and 401 unchanged. NYSE volume totalled 874.47 million shares as of 4 p.m. The NYSE composite index fell 4.74 to 489.89.