Stocks fell sharply on Wednesday as growing Wall Street pessimism pulled two major U.S. indexes in negative territory for 2018.
The Dow Jones Industrial Average lost 608 points Wednesday, a 2.4 percent drop that wiped out the index’s gains on the year. Standard and Poor’s 500 index fell 3.1 percent, also sliding below its 2018 open.
The Nasdaq composite tanked 4.1 percent as a Silicon Valley sell-off brings the tech-heavy index deeper into a formal correction.
U.S. stocks have slid throughout October as traders brace for higher interest rates, deepening trade tensions and moderating corporate earnings to slow the economy.