US stocks : Dow down 1.5 pct
taking a 'sell first, ask questions later' approach, said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research in Cincinnati.
Industrial shares led the decline, dragged lower in part by a 1 percent spike in crude prices after the Israeli offensive on Gaza. The S&P industrial sector index fell 2.5 percent.
Wall Street had opened higher after Dow component Cisco Systems Inc reported first-quarter earnings and revenue late Tuesday that beat expectations, driving its stock up 4.8 percent to $17.66. But the positive momentum was short-lived.
The Dow Jones industrial average fell 185.23 points, or 1.45 percent, to 12,570.95 at the close. The S&P 500 dropped 19.04 points, or 1.39 percent, to 1,355.49. The Nasdaq Composite lost 37.08 points, or 1.29 percent, to 2,846.81.
Both the Dow industrials and the Nasdaq ended at their lowest levels since late June.
The S&P 500 has fallen 5.1 percent in the six sessions since election night. Wednesday marked the benchmark index's lowest close since July 25.
The Russell 2000 tumbled 2 percent. The Dow Jones Transportation average slid 2.6 percent. FedEx Corp shares dropped 3.7 percent to $87.12. Bank of America shares lost 3.6 percent to $8.99.
In contrast, Facebook shares jumped 12.6 percent to $22.36 as investors were relieved that expiring trading restrictions on a huge block of shares did not trigger an immediate wave of insider selling.
Teen clothing retailer Abercrombie & Fitch Co jumped 34.4 percent to $41.92 after the company reported unexpectedly improved third-quarter results and a full-year outlook that exceeded Wall Street's forecasts.
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