Economic concerns drag Wall Street lower

US stocks fell for a fourth day as a massive sell-off in commodities spilled into other markets, forcing investors out of riskier assets and rattling the equities market before Friday's payrolls data.

The Dow Jones industrial average dropped 139.41 points, or 1.10 percent, to 12,584.17. The Standard & Poor's 500 Index fell 12.22 points, or 0.91 percent, to 1,335.10. The Nasdaq Composite Index lost 13.51 points, or 0.48 percent, to 2,814.72.

European shares fell, with disappointing results weighing on banking stocks, while heavyweight mining firms tracked a pullback in commodity prices on growing uncertainty over the pace of economic recovery.

The FTSEurofirst 300 index of top European shares closed 0.3 percent lower at 1,131.36 points, but ended off two-week lows hit earlier in the session at 1,122.31 points.