US stocks fell further on Wednesday, taking all three major indexes down more than 1 percent, as investors fretted about the fallout from record oil prices after US crude topped $123 a barrel and a Federal Reserve official warned that the central bank must be ready to raise interest rates.
The Dow Jones industrial average slid 154.53 points, or 1.19 percent, to 12,866.54. The Standard & Poor's 500 Index fell 18.89 points, or 1.33 percent, to 1,399.37. The Nasdaq Composite Index tumbled 32.95 points, or 1.33 percent, to 2,450.36.