At 11:30 a.m. ET, the Dow Jones Industrial Average was down 233.56 points, or 0.66%, at 35,397.12, the S&P 500 was down 53.75 points, or 1.17%, at 4,522.98, and the Nasdaq Composite was down 285.06 points, or 2.00%, at 13,998.86. On the earnings front, CVS Health Corp added 3.1% on beating Wall Street estimates for quarterly profit, boosted by strength in its pharmacy benefit management unit and lower-than-expected medical costs in its health insurance business. Emerson climbed 4.2% after the industrial software firm raised its annual profit outlook as companies increase spending on automation in response to a tight labor market.