At 10:31 a.m. EDT the Dow Jones Industrial Average was down 508.11 points, or 2.22 percent, at 22,370.34, the S&P 500 was down 52.86 points, or 2.14 percent, at 2,414.84 and the Nasdaq Composite was down 155.05 points, or 2.37 percent, at 6,399.31.