Dow Jones industrial average skids 10 percent off year's peak

Dow Jones industrial average skids 10 percent off year's peakAs a wide-sweeping sell-off continued on three continents, the Dow Jones industrial average skid hit 10 percent off the year's peak on Thursday.

Putting it halfway to bear market, which is defined as a 20 percent drop, the DJIA gave up 200 points in the first half hour of trading and lost an additional 176 points by the close.

For the first time in three months, the Standard & Poor's index had dropped to less than 1,100.

The 10 percent drop has been quick. The DJIA peaked for the year on April 26 at 12,205.

The DJIA, by the close on Thursday, lost 376.36 points, or 3.6 percent, to 10,068.01. The S&P 500 dropped 43.46, or 3.9 percent, to 1,071.59. The Nasdaq composite index dropped 94.36, or 4.11 percent, to 2,204.01.

160 stocks advanced and 2,983 advanced on a trading volume of 8.3 billion shares, On the New York Stock Exchange.

The benchmark 10-year U. S. Treasury note rose 1 10/32 to yield 3.216 percent.

From Wednesday's $1.2385, the euro rose to $1.2487. The dollar, against the yen, dropped to 89.67 yen from Wednesday's 91.52 yen.