Stocks turned sharply lower and major indexes fell more than 1 percent in late-morning trade on Wednesday on investor concerns about Germany's decision to ban certain types of short selling.

The Dow Jones industrial average <.DJI> was down 149.18 points, or 1.42 percent, at 10,361.77. The Standard & Poor's 500 Index <.SPX> was down 15.14 points, or 1.35 percent, at 1,105.66. The Nasdaq Composite Index <.IXIC> was down 39.49 points, or 1.70 percent, at 2,277.77.

(Reporting by Caroline Valetkevitch)