The S & P 500 fell nearly 1% to kick off the new month of trading.
The Nasdaq Composite shed more than 1.5%, and the Dow Jones Industrial Average lost 0.4%, or 173 points.
The Cboe Volatility Index , Wall Street's preferred fear gauge, swelled abpve 20 — its highest level since Sept. 11.
I am bracing for added volatility and the market to over-trade daily headlines and themes," he said in a note to clients Wednesday.
CNBC Pro found that the S & P 500 averages a daily move of 1.3% in either direction in October, based on FactSet data going back to 1950.
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