After about an hour of trading, the Dow Jones industrial average had lost 0.9 percent, the broad S&P 500 index had fallen 0.6 percent, while the technology-heavy Nasdaq composite index had fallen 0.6 percent.
Behind the red numbers is, among other things, increasing concern about the price of oil, which has taken a significant step upward and, at 3:30 p.m., was trading at around $109 a barrel.
Another important point of reference for investors is tonight's announcement from the US Federal Reserve regarding the key interest rate.
The market expects the interest rate to be left unchanged in the range of 3.5–3.75 percent. The question many are asking is what the outgoing central bank chairman, Jerome Powell, will say about the possible impact of oil prices on inflation.
