Energy stocks fell the most after Chevron reported weaker oil and gas production.
The Dow Jones industrial average lost 110 points, or 0.7 percent, to 16,454 as of
The Standard & Poor's 500 index fell 12 points, or 0.7 percent, to 1,918 and the Nasdaq composite fell 39 points, or 0.9 percent, to 4,329.
The S&P 500 index is down 3 percent for the week and is heading for its worst week of the year.
Bond prices rose. The yield on the 10-year Treasury note fell to 2.49 percent.
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