The sentiment on the Wall Street took a turn for the worst, with technology stocks suffering the most.
At the time of writing, the Dow Jones Industrial Average was down 330 points or 2%. The S&P 500 was down 36 points or 2%. The tech index Nasdaq was down 2.3%.
Microsoft plunged 3.3% and weighed the most on the S&P 500 and the Nasdaq. Other names include Facebook, Amazon, Netflix and Alphabet; down between 2% and 4%. Nine of the 10 major S&P sectors were trading in the red, with the 1.95% fall in tech stocks leading the decliners.
US crude oil prices fell 2.6% after a meeting between Saudi Arabia and Venezuela failed to end on a productive note.
(Market News Provided by FXstreet)