Stocks fell further on Thursday, with the Dow industrials briefly down 4 percent, as a bleak outlook from the Federal Reserve and weak data from China heightened fears of a global recession.

The Dow Jones industrial average dropped 413.38 points, or 3.72 percent, to 10,711.46. The S&P 500 dropped 38.84 points, or 3.33 percent, to 1,127.92. The Nasdaq Composite dropped 81.79 points, or 3.22 percent, to 2,456.40.

(Editing by James Dalgleish)