U.S. and European stocks tumbled on Thursday over fears that Europe’s debt crisis will continue to expand.

In the New York Stock Exchange, the Dow Jones Industrial Average fell by three-point-seven percent, or around 420 points, to close at ten-thousand-990-point-58l. The Nasdaq composite index fell five-point-two percent to two-thousand-380-point-43.

U.S. stocks plunged after key U.S. economic indicators regarding employment, consumer prices and construction industries, saw sharp drops and amid growing pessimism over Europe’s financial turmoil.

European stocks also fell sharply.

Britain’s FTSE 100 index slid around four-and-a-half percent, closing at five-thousand-92-point-23. Germany’s DAX index fell five-point-eight percent and France’s CAC40 index tumbled around five-and-a-half percent.