Chinaannounced before markets opened Monday that it would impose a 15 percent tariff on more than 120 goods imported from the US, including pork, fruit and nuts.
The Dow Jones industrial average shed 458 points, or 1.9 percent, while the S&P 500 dropped 2.2 percent to head back into correction turf, down 10 percent from its record high on January 26. The Dow Jones industrial average rose 1.6 percent to 24,033.36.
USA stocks rose on Tuesday as technology shares recovered from a sharp selloff a day earlier, helping the S&P 500 and the Dow stay above an important technical level.
Gains in Tokyo stocks came despite a Bank of Japan survey showing the first softening of business sentiment among Japan's big manufacturers in two years, with the materials sector most directly affected by USA trade tariffs showing the sharpest declines.
The Nasdaq composite gained 71.16 points, or 1 percent, to 6,941.28. Losses were widespread across all 12 sectors of the market, with consumer goods (2.8 percent), technology (2.4 percent) and financials (2.1 percent) taking the hardest hits. Stocks across the world have been far more volatile in 2018 than in 2017, when USA markets saw a major boost in value during Trump's first year. Starting Monday, China is increasing the tariff rate on eight imported USA products, including pork, by 25 percent.
We've been warning since early this year that stocks were getting ahead of themselves.
With many global markets closed for Easter, trading volume was fairly light in the morning but picked up in the afternoon as investors began unloading their holdings, said JJ Kinahan, chief markets strategist for TD Ameritrade.
Big-name tech companies like Microsoft fell more than the rest of the market Monday.
Energy companies skidded as benchmark USA crude lost $1.93, or 3 percent, to $63.01 a barrel in NY.
Stocks slipped into the red for a brief period after PresidentDonald Trump's latest attack on Amazon but then quickly recovered.
Home builder Lennar and motor vehicle retailer CarMax were among the best performers in the S&P 500 after reporting earnings.
However, lingering concerns about a potential trade war between the United States and China helped to keep buying interest somewhat subdued.
In the cash market, the benchmark S&P 500 Index settled at 2640.87, up 2.0%. Stocks are coming under pressure from worries over an escalating tariff fight with China and the persistent declines in the tech sector, which has been a key performance leader in the bull market and is widely owned by both big and small investors.
US crude fell $1.81 to $63.13 per barrel and Brent was last at $67.88, down $1.46 on the day. The yield on ten-year US Treasury bonds also jumped 2 basis points to 2.75%. CBS rose 2.5 percent.
DiVincenzo finished with 31 points - a title game record - plus five rebounds and two emphatic blocked shots. I was just trying to make the right play. "I didn't know how many points I had, I didn't know any of that.
Watson previously won the Par 3 Contest in 1982 and becomes the oldest victor in the tournament's history. The 78-year-old, 18-time major victor , said later: "What I did doesn't make any difference to me".
This now marks the first title for Notre Dame and Coach Muffet McGraw since 2001 when they outran Purdue with a score of 68-66. The shot from the corner for the last of her 27 points on the night, reminded some of another sharpshooter who wears No. 24.
Giannandrea will focus on AI technology that supports Siri , while Federighi will likely still oversee the user-facing components. His company's work formed the basis of Google's Knowledge Graph , which brings up information at the top of search.
A man walks by an electronic board displaying stock trading index at a brokerage house in Beijing, Tuesday, April 3, 2018. That has provoked anger in China, while there are doubts that the tariffs will succeed in changing Beijing's behaviour.
I'm not into the hype, let's get the business done. "I want a body on my record, I want one", the WBC holder said . The American was not among those present, despite being invited by organisers, opting to watch from afar instead.
President Trump suggested Tuesday he might try to put USA troops on the Mexican border until his anti-migration wall is built. He also said he had spoken with Secretary of Defense James Mattis about the use of the military to guard the border.
After the spacecraft has been captured, NASA TV will resume live coverage of its installation in the Harmony module at 8:30 a.m. The rocket for this mission launched supplies to the International Space Station Aug. 14 and will not be recovered this time.
Released footage from Spider-Man showcases a highly confident, mobile character "who is at the peak of his skills". Sony just announced the all-important release date , along with the game's box-art, and two deluxe editions .
But are investors going to continue to listen? At 9:54 a.m., Amazon's stock was up 1.4%. Trump did not cite where these figures came from.
Social media tributes pour in for Winnie Mandela
He noted the tremendous impact both Winnie and her late former husband, Nelson Mandela had on him and throughout the world. Her death was first announced by the family in Soweto , where she still maintained her home till her dying day.
Israeli gunfire injures 11 Palestinians on Gaza border
Turkish President Recep Tayyip Erdogan said on Sunday Israeli Prime Minister Benjamin Netanyahu is a "terrorist and occupier". One day after the Israeli army killed 16 Palestinian peace protesters , Meidan tweeted: "Today, I am ashamed to be Israeli".
Countdown to China's space station's fiery return to Earth
Mr McDowell has also pointed out that if part of the space station lands in your garden "it's not yours, it's still China's". The predictions for when Chinese space station Tiangong-1 will come crashing back to Earth are becoming more and more exact.
OnePlus 6 release secrets spun in pink dust
But the fact that OnePlus is already talking about the handset, whose name is yet to be confirmed , is quite telling. This device's display was tipped to roll with a Qualcomm Snapdragon 845 processor and an Adreno 630 GPU.