(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.
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"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.