Technology companies accounted for the biggest slice of the pullback. Financial, health care, communication services and industrial sector stocks also took heavy losses. Energy stocks fell the most as the price of oil dropped sharply.
Bond yields fell, another sign of caution in the market. On Wednesday: The S&P 500 dropped 80.96 points, or 2.6%, to 3,050.33. The Dow Jones Industrial Average lost 710.16 points, or 2.7%, to 25,445.94.
The Nasdaq composite fell 222.20 points, or 2.2%, to 9,909.17. The Russell 2000 index of small company stocks gave up 49.60 points, or 3.4%, to 1,389.74. For the week: The S&P 500 is down 47.41 points, or 1.5%.
The Dow is down 425.52 points, or 1.6%. The Nasdaq is down 36.96 points, or 0.4% The Russell 2000 is down 28.89 points, or 2%. For the year: The S&P 500 is down 180.45 points, 5.6%. The Dow is down 3,092.50 points, or 10.8%.
The Nasdaq is up 936.56 points, or 10.4%. The Russell 2000 is down 278.73 points, or 16.7%.