Python - sort a list of dictionaries?

Question

i have the following list of dictionaries:

my_list = [ 
    {
       "field1": value,
       "field2": value,
       "time": 2017-12-01 14:34:12,
       "field3": value
    },
    {
       "field1": value,
       "field2": value,
       "time": 2017-12-01 14:31:20,
       "field3": value
    },
    {
       "field1": value,
       "field2": value,
       "time": 2017-12-01 14:40:02,
       "field3": value
    }
]

How can i sort this list by the time value of the dictionaries? (so the dictionary with the highest time value will be in the first index of the list and so on..)

Thanks!