Technology companies and banks led the way lower. Utilities eked out gains as investors sought out safer holdings. The wave of selling on Wall Street followed a sell-off in European indexes after the European Central Bank delayed its next interest rate hike and announced a new round of cheap loans for banks.
The S&P 500 index declined 22.52 points, or 0.8 percent, to 2,748.93.
The Dow Jones Industrial Average fell 200.23 points, or 0.8 percent, to 25,473.23.
The Nasdaq composite dropped 84.46 points, or 1.1 percent, to 7,421.46.
The Russell 2000 index of smaller companies gave up 13.19 points, or 0.9 percent, to 1,523.63.
For the week:
The S&P 500 is down 54.76 points, or 2 percent.
The Dow is down 553.09 points, or 2.1 percent.
The Nasdaq is down 173.89 points, or 2.3 percent.
The Russell 2000 is down 66.01 points, or 4.2 percent.
For the year:
The S&P 500 is up 242.08 points, or 9.7 percent.
The Dow is up 2,145.77 points, or 9.2 percent.
The Nasdaq is up 786.19 points, or 11.8 percent.
The Russell 2000 is up 175.07 points, or 13 percent.