(CNBC) -- Stocks fell sharply once again Wednesday, as escalating tensions between Russia and Ukraine push the major averages to fresh lows for the year so far.
The S&P 500 fell 1.8% to 4,225.50, closing nearly 12% from its Jan. 3 record close as it slid deeper into correction. The Dow Jones Industrial Average dropped 464.85 points to 33,131.76. The technology-focused Nasdaq Composite lost 2.6% to 13,037.49.
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Both the Dow and Nasdaq fell for a fifth straight session, while the S&P 500 notched a four-day losing streak.