Stocks have moved sharply lower over the course of the trading session on Wednesday, more than offsetting the gains posted in the previous session. With the downward move, the Nasdaq and the S&P 500 have fallen to their lowest levels in almost five months.
In recent trading, the major averages have seen further downside, falling to new lows for the session. The Nasdaq is down 321.59 points or 2.5 percent at 12,818.28 and the S&P 500 is down 61.95 points or 1.5 percent at 4,185.73, while the narrower Dow is down 109.66 points or 0.3 percent at 33,031.72.
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