The Dow Jones Industrials blundered 448.96 points, or 1.3%, to 34,358.50.
The S&P 500 fell 55.37 points, or 1.2%, to 4,456.24
The NASDAQ Composite crumbled 186.21 points, or 1.3%, to 13,922.60.
Traders digested the latest news on the Ukraine-Russia war. Ukrainian President Volodymyr Zelenskyy called for more pressure on Russia from other countries as the conflict appears to be entering a stalemate.
All three averages are on track to close the month more than 1% higher. The S&P 500 has recouped its losses since Russia invaded Ukraine in February.
Energy stocks rallied Wednesday as oil prices rose. Hess advanced 4.6% while Diamondback Energy rose 3.9%, to prove the top two gainers on the S&P 500.
General Mills added nearly 2.5% after the food maker reported better-than-expected quarterly earnings Wednesday and raised its full-year outlook.
On the downside, Adobe shares fell 9.3% after the company forecasted lower-than-expected profit and revenue in its fiscal second quarter.
Treasury prices hiked, lowering yields to 2.29% from Tuesday’s 2.38%. Treasury prices and yields move in opposite directions.
Oil prices regained $5.32 to $114.99 U.S. a barrel.
Gold prices jumped $25.30 to $1,946.80 U.S. an ounce.