Stocks fell sharply on Tuesday as corporate results from Caterpillar and 3M disappointed investors.
The Dow Jones Industrial Average dropped 500 points, with Caterpillar and 3M as the biggest decliners. The S&P 500 plunged 2.2 percent as the industrials and tech sectors underperformed. The Nasdaq Composite plummeted 2.7 percent, entering correction territory. The small-caps Russell 2000 dropped 2.1 percent and turned negative for the year.