Dow closes below 11K

Wall Street saw a sharp nosedive to finish at session lows with S&P 500 plummeting over 6%, its lowest close since September 2010, while the Dow closed well below the psychologically-significant 11,000 mark. All eyes will be on the Fed meeting today.

Dow Jones Industrial Average shed 5.55% or 634.76 points at 10809.85. Nasdaq Composite fell 6.9% or 174.72 points at 2357.69. Standard & Poor's 500 declined 6.66% or 79.92 points at 1119.46.