U.S. stocks ended the day in the red.
Avalon Advisors, co-chief investment officer, Bill Stone:
(SOUNDBITE) (English) AVALON ADVISORS, CHIEF INVESTMENT OFFICER, BILL STONE, SAYING:
"You know, I think it's just our continuing struggle or the market's continuing to struggle with worrying about the global economy, what's going on with trade. You know, you throw in some comments from some of our politicians, and maybe a little bit of worries about Brexit, and you get a sell off on the market."
Apple led the decline in tech stocks, falling for fifth day on concerns about demand for iPhones.
Financials slumped after California Democrat Maxine Waters said she will stop deregulation when she becomes chair of the House Financial Services Committee.
Shares of Pacific Gas and Electric Company plunged after it said it could face liability if an investigation finds its equipment caused the blaze raging in Northern California.
Snap fell after Reuters reported U.S. regulators have subpoenaed the company for information about its March 2017 initial public offering.
Earlier in the day, positive U.S. consumer prices temporarily boosted the markets amid a rise in gas and rental costs.
Oil prices rose on prospects of OPEC cutting output at a meeting next month.
European shares hit their lowest in two weeks in a broadbased sell-off on worries about a global economic slowdown and Italy's budget crisis.