US stock markets settled sharply lower on Thursday. The Dow Jones Industrial Average declined 317.06 points or 1.88 percent to settle at 16,563.30.

While NASDAQ 100 index plunged 83.57 points or 2.1 percent to close at 3,892.50.

The broader S&P 500 index lost 39.40 points or 2 percent to end at 1,930.67.