Stocks fell sharply Thursday after worse-than-expected readings on the manufacturing and labor fronts overshadowed better news on housing and consumer spending.

The blue-chip Dow Jones Industrial Average ($INDU) fell 203 points, or 2.1 percent, to close at 9,509, while the broader S&P 500 ($INX) shed 27 points, or 2.6 percent, to 1,030. The tech-heavy Nasdaq Composite ($COMPX) tumbled 65 points, or 3.1 percent, to finish at 2,057.

All 30 stocks in the Dow ended the session lower, with financials posting the biggest declines. Bank of America (BAC) and American Express (AXP) each fell more than 4 percent, while JPMorgan Chase (JPM) dropped more than 5 percent.

For more on stocks making news today, be sure to check out BloggingStocks' market wrap.

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