Commodity-related stocks drove Wall Street lower on Wednesday as stiff declines in energy and metals prices underscored investor concerns about global economic weakness and Europe's raging debt crisis.

According to the latest available data, the Dow Jones industrial average dropped 179.56 points, or 1.60 percent, to 11,011.13. The S&P 500 fell 24.28 points, or 2.07 percent, to 1,151.10. The Nasdaq Composite lost 55.25 points, or 2.17 percent, to 2,491.58.