As investors slog through another impulsive session, the U.S. stocks sharply fell on Wall Street. The Dow Jones Industrial Average traded 296.24 points down at 24,688.31. However, the lowest of the trading day was 539 points down for the Dow Jones Industrial Average.

On the other hand, the Nasdaq Composite also closed 2.1 percent at 7,167.21 after dropping more than 3 percent at its lows of the day. The S&P 500 dropped 1.7 percent and arrived at 2,658.69 as entered briefly into a correction. However, it has traded down by 10 percent since its high record in September.

Almost 7 sectors out of 11 of S&P 500 are down from their 52-week highs by more than 10 percent. These seven sectors include financials, materials, and energy while three quarters are also in correction territory.

Meanwhile, shares of Alphabet declined about 5.6 percent before trading by 1.8 percent lower, whereas Amazon dropped 7.8 percent after the company posted its latest quarterly results. Both companies have earned better than estimated but fell short on revenues.

The Commerce Department has reported regarding the economic growth that the economy of the United States has grown at a rate of 3.5 percent in the third quarter, slightly above than the estimated 3.4 percent. Also, the government said its PCE (Personal Consumption Expenditures) index has also climbed up by 1.6 percent in the last quarter.

The major indexes were lower this week due to their big losses as the S&P 500 and Dow Jones both dropped 3.9 percent and 3 percent, respectively this week. However, the Nasdaq Composite slipped 3.8 percent. In terms of monthly data, the Dow Jones Industrial Average has fallen 6.7 percent down on its way to experience its biggest one-month loss since May 2010.