Investors on Wall Street were discouraged by the IMF report as well as expectations of lower corporate earnings. Analysts expect earnings for Standard & Poor's 500 companies to be lower than a year ago — the first time that has happened in almost three years.
The Dow Jones industrial average fell 0.8 percent to 13,473.53. The Standard & Poor's 500 index fell 1 percent to 1,441.48. The Nasdaq composite index fell 1.5 percent to 3,065.02.
Benchmark oil fell 31 cents to $92.08 per barrel in electronic trading on the New York Mercantile Exchange.
The price of oil rose more than 3 percent Tuesday on concerns about supplies from the Middle East and the North Sea. The contract rose $3.06 to finish at $92.39 per barrel.
In currencies, the euro fell to $1.2861 from $1.2880 late Tuesday in New York. The dollar rose to 78.25 yen from 78.22 yen.