The Dow fell more 4 percent on Thursday while the CBOE Volatility Index rose above 30 in its biggest daily percentage move since May 2010 as investors fled stocks and other risky asset classes.

The Dow Jones industrial average was down 475.52 points, or 4.00 percent, at 11,420.92. The Standard & Poor's 500 Index was down 55.26 points, or 4.38 percent, at 1,205.08. The Nasdaq Composite Index was down 124.68 points, or 4.63 percent, at 2,568.39.

(Reporting by Caroline Valetkevitch; Editing by James Dalgleish)