Stock indexes extended losses into a second day as a sharp drop in railroad operator CSX pulled other industrial companies broadly lower.
Banks also fell as investors worry that lower interest rates will hurt their profits going forward. Bond prices rose, sending yields lower. Utilities and health care were the only sectors to finish the day with modest gains.
The S&P 500 fell 19.62 points, or 0.7%, to 2,984.42.
The Dow fell 115.78 points, or 0.4%, to 27,219.85.