Stocks Get Roughed Up

On the economic front, the Labor Department said its preliminary read on third-quarter productivity showed a 4.9% jump, nearly doubling expectations. Unit labor costs unexpectedly eased 0.2%, much better than estimates for a 1.0% increase.

U.S. Treasury securities were higher following a volatile session. The 10-year note rose 12/32 in price, dropping the yield to 4.33%. The 30-year bond was up 3/32 in price to yield 4.66%.

Most overseas indices were lower. In Europe, London's FTSE 100 was fell 0.9%, the Paris CAC 40 lost 0.5%, and Germany's Xetra Dax was down 0.4%. In Asia, Japan's Nikkei 225 dropped nearly 1% overnight, while Hong Kong's Hang Seng added 0.9%.