U.S. stocks start quarter down 2% to 3%, back at levels seen last year; Dow's off 258 pts

SAN FRANCISCO (MarketWatch)
U.S. stocks tumbled Monday in a pessimistic start to October and the fourth quarter, deepening losses into the close as financials stocks sold off.
The Dow Jones Industrial Average fell 258.08 points, or 2.4%, to 10,655.30, its lowest close since Sept. 2010.
Bank of America Corp. fell 9.6%, leading decliners for all but one of the index's 30 components.
The S&P 500 lost 32.19 points, or 2.9%, to 1,099.23, also the lowest close since Sept. 2010.
Intraday, it broke through its Aug. 9 closing low, a bearish sign for some technical strategists.
The financial sector fell more than 4%.
The Nasdaq Composite fell 79.57 points, or 3.3%, to 2,335.83, its lowest close since Sept. 2010.