U.S. stocks extended losses in late-morning trading on Wednesday, with three major indexes falling 1 percent.
The S&P 500 has been led lower by losses in recent top performers, such as energy and materials shares, for a second day.
The Dow Jones industrial average <.DJI> was down 122.42 points, or 0.96 percent, at 12,685.09. The Standard & Poor's 500 Index <.SPX> was down 13.61 points, or 1.00 percent, at 1,343.01. The Nasdaq Composite Index <.IXIC> was down 27.95 points, or 0.98 percent, at 2,813.67.
The Dow and Nasdaq also briefly fell more than 1 percent.
(Reporting by Caroline Valetkevitch; Editing by Kenneth Barry)