The S&P index of financial stocks <.GSPF> fell more than 8 percent after rebounding Wednesday. The energy index <.GSPE> fell more than 4 percent.

The Dow Jones industrial average <.DJI> lost 254.80 points, or 3.10 percent, at 7,973.30. The Standard & Poor's 500 Index <.SPX> slipped 27.23 points, or 3.24 percent, at 813.01. The Nasdaq Composite Index <.IXIC> shed 57.98 points, or 3.85 percent, at 1,449.09.

(Reporting by Deepa Seetharaman; Editing by James Dalgleish)