Wall Street drowned in another sea of worries and U.S. markets suffered their steepest losses in more than a year on Thursday, a reflection of how concerns about Europe’s debt crisis have snowballed into fears about the sustainability of the global economic recovery. Today’s Markets The Dow Jones Industrial Average fell 376.36 points, or 3.60%, to 10068.01 the Standard & Poor's 500 lost 43.46 points, or 3.90%, to 1071.59 and the Nasdaq Composite dropped 94.36 points, or 4.11%, to 2204.01. The FOX 50 slid 30.71 points, or 3.75%, to 789.03. New signs of trouble for the U.S. recovery, including an alarming surge in jobless claims, combined with persistent worries about Europe's debt crisis to deliver another blow to Wall Street. The markets were also spooked by the S&P 500 breaching a key technical level and regulatory uncertainty in both Washington and Europe. The results were staggering as the Dow officially closed in "correction" mode and all three indexes ended in the red for the year. “Let’s be frank, the headwinds from every conceivable corner of the globe seem to be driving fear into even the most opportunistic of long side investors,” Peter Kenny, managing director at Knight Capital Markets, wrote in a note. Economic Fears Grip Wall Street; Dow Dives 376 - FOXBusiness.com OK--Rightwinger--why don't you step in here and tell us how GOOD this news is Today's date is 5/20/2010 Again--PROOF that massive government spending DOES NOT CREATE long term private sector job growth. Obama's flood the basement economics has only created MASSIVE debt. Each household in America now owes the Federal Government 100K which is expected to rise to 170K by 2020.