Stocks dropped more than 1 percent at the open on Thursday after the latest data on the labor market further confirmed investor fears of a slowdown in the economy.

The Dow Jones industrial average <.DJI> dropped 151.17 points, or 1.25 percent, to 11,958.50. The Standard & Poor's 500 Index <.SPX> lost 14.45 points, or 1.12 percent, to 1,272.69. The Nasdaq Composite Index <.IXIC> slid 33.53 points, or 1.26 percent, to 2,635.66.

(Reporting by Chuck Mikolajczak)