(CNBC) — U.S. stocks closed sharply lower Tuesday, lead by energy, as investors digested a spike in volatility and falling oil prices, while looking ahead to next week's Federal Reserve meeting.
"We're back in the world of volatility, which I don't think is a surprise since we've had fears over the Fed and falling commodity prices," said Kate Warne, investment strategist at Edward Jones.
"I tend to look at the market from three different perspectives: Technical, fundamental and psychological," said Daniel Deming, managing director at KKM Financial. "You've got a technical breakdown; ... fundamentals are pretty weak" and the market's psychology has been affected by several changes in expectations regarding economic growth and the election, among others. "Now, with the possibily that Trump might turn this into a race again after it was all said and done, the market hasn't completely priced that in."
Advertisement - story continues below