Breaking News: Stocks plunge into correction territory

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***USATODAY.com Breaking News***

NEW YORK (AP) The stock market has had a huge selloff as more investors woke up to the possibility that economic problems such as Europe's debt crisis might spread around the world. The Dow Jones industrial average is down 376 points, or 3.6%, at 10.068, its biggest one-day drop since February 2009. With Thursday's drop, the Standard & Poor's 500 is down almost 12% from its 2010 high close of 1,217.28, reached April 23. The means the stock market has officially had a correction, a pullback of 10% or more from a recent high. It's the first correction since stocks recovered from the 12-year lows they hit in March 2009. The S&P 500 is down 43, or 3.9%, at 1,071. The Nasdaq composite index is down 94, or 4.1%, at 2,204.

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