The Standard & Poor's 500 index (S&P 500) declined 4.1 percent to 2,648.94 points.
The Dow Jones industrial average fell 438 points, or 1.8 percent, to 23,434. South Korea's Kospi declined 2.9 percent to 2,418.70 and the Shanghai Composite index was off 2.2 percent at 3,412.55. The VIX's bond-market cousin reached its highest since April. Netflix's stock price is up 33 percent while Amazon's is up 19 percent, according to FactSet data.
GETTY CNBCMarkets in Asia led the global selloff today. Figures correct as of 2.30pm GMT
The Dow recovered some of its early plunge and was down 127 points, or 0.4 percent, at 24,255.
US stocks opened down and slid lower in early trading on Thursday, as volatility kept the markets in its grip.
In Europe, Germany's DAX fell 1.2 percent, while France's CAC 40 lost 1.2 percent.
Analysts have also been saying the market has gotten much too expensive after a huge run-up over the past year and has been long overdue for a pullback.
Nvidia posts 34 per cent revenue surge as GPU sales soar
RBC Capital Markets reiterated its outperform rating for the company's shares, citing optimism over its data center business. The lowest price the stock reached in the last trading day was $53.23 and compares with the $42.26 52-week low.
USA markets began to recover after the sinking.
"I was actually expecting a correction to occur, the fundamentals were getting a little ahead of themselves and I've lived through three major corrections", said Lampe. Bond yields are rising as the Federal Reserve trims its USA bond holdings.
But inevitably investors took advantage of the sharp drop in prices to come back into the market, sending the key indexes higher.
Amazon Prime lead will spend time with Whole Foods team
This marks the first major integration between Amazon's e-commerce operations and its acquisition of Whole Foods . Customers must be members of Amazon's $99 yearly subscription Prime service to get the speedy deliveries.
He said: "The regulators need to address this issue because a drop like this is worse than anything on the street, we are talking about real companies with revenue streams". It's still up 15 percent over the past year.
"The market had gotten way ahead of itself", said Nancy Tengler, chief investment officer of Heartland Financial. The housing industry is solid and manufacturing is rebounding. "I don't see the possibility of a recession any time soon". That combination usually carries stocks higher.
"And this has really triggered a spike in volatility because it's brought into question where higher interest rates are going to curtail the global growth story or erode corporate profitability". And rates have run up fast. The dollar index last rose 0.13%, with the euro up 0.06% to $1.2384.
Some investors, however, fear the market is over-stretched in the context of higher inflation and rising bond yields as central banks withdraw their easy money policies of recent years. Copper lost 1.30% to $7,075.85 a tonne.
Brady opens up about Super Bowl loss in Instagram post
The Eagles All-Pro center stepped to the podium at the team's victory parade and celebration in downtown Philadelphia on Thursday. Rookie contracts are cheap and cap friendly and the Eagles could use to add picks in this year's draft and in the future.
- Aid group warns of crisis in battered Syria rebel enclave
- THE 15:17 TO PARIS - Official Trailer [HD]
- Hawks Fans Chanted 'LeBron will trade you' at Cavs Players
- Special Austin prom crowns every guest a king and queen
- Another White House staffer resigns amid domestic abuse allegations
- House Passes Spending Bill Ending Overnight Government Shutdown
- Wall Street tumbles again as S&P, Dow confirm correction
- Padman is not about box office - R Balki
- Senate & House Vote To End Government Shutdown
- US House passes stopgap spending package