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Indexes were down sharply on a surge in Treasury yields and declines in technology stocks.
The S&P 500 declined 1.4% to 2,840.22; the Dow Jones Industrial Average dropped 1.4% to 26,061.44; and the Nasdaq fell 1.8% to 7,597.22.
The yield on a 10-year Treasury bond rose 0.4% to 3.22%.
The price of gold was 0.1% higher to $1,193.
Heart valve maker Edwards Lifesciences Corp. (NYSE: EW) in Irvine was down 4% to $141.90 and a $29.7 billion market cap. Its shares this month have given back all its gains after an analyst at the end of September said Edwards could be a takeover target of Johnson & Johnson.
Newport Beach-based Chipotle Mexican Grill Inc. (Nasdaq: CMG) was down 1.5% to $440.47 and a $12.2 billion market cap. The casual dining chain, which recently moved its headquarters to Orange County, is the fourth largest publicly traded company based here.