U.S. stocks plunged on Thursday amid concern over credit market, with the Dow losing its biggest point drop since a market pullback on Feb. 27.

In the closing trading, the Dow Jones Industrial Average was down 387.18, or 2.83 percent, to 13,470.68. The Standard & Poor's 500 index lost 44.40, or 2.96 percent, to 1,453.09. The Nasdaq composite index fell 56.49, or 2.16 percent, to 2,556.49.

Among companies in focus, France's largest bank group BNP Paribas said Thursday that it has suspended three funds worth a total of 2.75 billion dollars. The evaporation of liquidity in certain market segments of the U.S. securitization market has made it impossible to value certain assets fairly regardless of their quality or credit rating, said BNP Paribas in a statement.

Crude oil futures fell below 72 dollars on Thursday, as worries over U.S. economy eased.