Stocks fell sharply at the open on Thursday, extending losses for a third day, as a grim outlook from the Federal Reserve and downbeat data in Europe and China heightened fears about a global recession.

The Dow Jones industrial average <.DJI> was down 147.88 points, or 1.33 percent, at 10,976.96. The Standard & Poor's 500 Index <.SPX> was down 13.82 points, or 1.18 percent, at 1,152.94. The Nasdaq Composite Index <.IXIC> was down 71.89 points, or 2.83 percent, at 2,466.30.

(Reporting by Angela Moon; editing by Jeffrey Benkoe)