Published: May 07, 2010 4:49 PM EDT

NEW YORK, NY - The turbulence continued in the stock market Friday, a day after some of the most volatile trading in history.

Traders looked past a surprisingly strong report on the U.S. jobs market and focused instead on Europe's spreading debt crisis and Thursday's plunge, which gave the Dow its largest-ever drop.  

The Dow fell almost 1,000 points before recovering to a lost of 348. In the first hour of trading Friday, the Dow was off 182.96, or 1.7 percent, at 10,337.36.

The broader Standard & Poor's 500 index fell 23.55, or 2.1 percent, to 1,104.60, while the Nasdaq composite fell 67.51, or 2.9 percent, to 2,252.13.

Falling stocks outpaced gaining ones by about five to two on the New York Stock Exchange, where volume was 550 million shares.