(CNBC) U.S. stocks fell sharply on Tuesday, extending losses into a second session, as investors fretted slowing economic growth in Europe and the potential impact on coming third-quarter earnings from U.S. corporations.

“We could see a continuation of these 100-plus-point-day moves as investors worry about could this be the end of a three-year run without a correction,” said Kate Warne, investment strategist at Edward Jones.

The CBOE Volatility Index jumped 11 percent to 17.22 and the Russell 2000 Index of smaller-cap companies shed 1.7 percent.

“It’s heightened concern about the slowdown in global growth, highlighted by the IMF forecast this morning, and whether earnings will keep growing,” said Warne of the factors propelling stocks lower.

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