U.S. stocks sold off sharply following a rout in global markets Thursday.

The S&P 500 and the Dow Jones industrial average dropped 2.7%. The Nasdaq toppled 2.6%. Volume soared 51% on the Nasdaq and 97% on the NYSE compared with the same time Wednesday.

The dollar and yen rocketed higher as the euro tumbled. Crude oil veered 6% lower to near $81 a barrel. Gold sold off 4% to $1,730.90 an ounce.

United Technologies (UTX) skidded 7% lower in heavy trade. The aerospace components maker announced Wednesday it would pay $18.4 billion to acquire Goodrich (GR), a maker of aircraft landing gear systems. Goodrich shares jumped 10%.

FedEx (FDX) tumbled 6% in early trade after lowering its full-year earnings guidance. The global parcel deliverer reported quarterly sales and earnings above expectations.

Leading stocks saw heavy selling, with gold and silver miners suffering the heaviest losses. Others hard hit included Baidu (BIDU), which gapped down to an 8% loss, testing support at its 200-day moving average. The stock had been attempting to shape a late-stage, base-on-base pattern.

Ancestry.com (ACOM) skidded 9% lower, deepening a third straight week of losses. The online genealogy site lost a bid in the first week of September to retake its 10- and 40-week lines.