Stocks took a sharp nosedive across the board Thursday, with the Dow on track for its worst day of 2013, after Federal Reserve Chairman Ben Bernanke hinted the central bank may scale back its asset purchases later this year.

With the declines from the last two sessions, the Dow and S&P 500 have wiped out all of their gains from May and June.

The Dow Jones Industrial Average plummeted almost 350 points, extending losses after dropping more than 200 points in the previous session. All 30 components were in the red, led by Disney and Intel. The last time the blue-chip index closed down more than 300 points was last November.

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