The S&P 500 is 3 points higher to 1967 but the index rose as high as 1971 at the open and has been fading since.

The loss on Mon/Tues was the worst two-day decline since May 15-16.

S&P 500 daily

S&P 500

The market is spooked by the possibility of some hawkish headlines from the FOMC minutes at 1800 GMT.