US stocks have finished lower following a topsy-turvy session amid unease over plunging oil prices and a crash in the Russian rouble.

At the closing bell, the Dow Jones Industrial Average stood at 17,074.85, down 105.99 points (0.62 per cent).

The Dow climbed as high as 17,427.44 in late morning before tumbling.

The broad-based S&P 500 fell 16.50 (0.83 per cent) to 1,973.13, while the tech-rich Nasdaq Composite Index sank 57.32 (1.24 per cent) to 4,547.83.

US oil prices stabilised, but the benchmark European contract fell below $US60 a barrel.

Meanwhile, the Russian rouble crashed to extreme lows on Tuesday, trading at 80 roubles to the US dollar and 100 to the euro.

Adding to the mix, investors were eyeing a US Federal Reserve meeting that culminates Wednesday with a policy announcement.

“There are just a lot of pieces in play,” said Jack Ablin, chief investment officer at BMO Private Bank.