Stocks Selloff: Major Indexes Down More Than 2% on Slipping Oil Prices

 

By Evelyn Cheng, CNBC and Reuters

U.S. stocks traded more than 1.5 percent lower Wednesday as further decline in oil prices pressured global equities.

All three major U.S. stock indices were sharply lower in early trading. At 10 a.m. ET, the Dow Jones industrial average was off 308.31 points, or 1.93 percent, with IBM contributing the most to the decline; the Standard & Poor's 500 index was down 38.67 points, or 2.06 percent -- near its lowest point since 2014 -- with the Nasdaq Composite showing a loss of 101.47 points, or 2.24 percent. 

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Source: NBC News