Urgent: Nasdaq plunges over 3 pct on oil weakness

U.S. stocks erased early gains to trade sharply lower in the afternoon session Wednesday, as a renewed decline in oil prices rattled nervous investors.

By 2:45 p.m., the Dow tumbled 2.2 percent, and the S&P 500 shed 2.5 percent, while the Nasdaq dived 3.4 percent. Endit