Technology companies helped pull stocks broadly lower on Wall Street Tuesday as disappointing economic data and the latest escalation in the U.S.-China trade war put investors in a selling mood.
The sell-off got going as markets opened after a long weekend to expanded tariffs between Washington and Beijing, and little sign that talks would restart soon. New economic data showing that U.S. factory activity shrank in August for the first time in three years helped drive the selling.
The S&P 500 dropped 20.19 points, or 0.7%, to 2,906.27.
The Dow Jones Industrial Average lost 285.26 points, or 1.1%, to 26,118.02.
The Nasdaq fell 88.72 points, or 1.1%, to 7,874.16.
The Russell 2000 index of smaller company stocks slid 22.56 points, or 1.5%, to 1,472.28.
For the year:
The S&P 500 is up 399.42 points, or 15.9%.
The Dow is up 2,790.56 points, or 12%.
The Nasdaq is up 1,238.88 points, or 18.7%.
The Russell 2000 is up 123.72 points, or 9.2%.