The S&P 500 index closed down by 53.78 points, or 0.9%, at 5,797.42. That was the index's worst one-day performance since Oct. 7. The Nasdaq Composite ended down by 296.47 points, or 1.6%, at 18,276.65. Wednesday's closing level was the lowest since Oct. 8.

Asian shares were mostly higher on Wednesday after stocks on Wall Street rallied as Americans cast votes in a pivotal national election. The results of Tuesday’s presidential election may not be known for days or weeks as officials count all the votes,