U.S. stocks fell sharply on Thursday, pressured by worries of a potential trade war and a decline in tech shares. The broader market was also pressured by a decline in bank stocks, CNBC reported.
The Dow Jones industrial average dropped 723 points, with Caterpillar, 3M and Boeing as the biggest decliners. The 30-stock index also briefly entered correction territory for the first time since last month, falling 10 percent from its 52-week high at one point late in the day.
The S&P 500 fell 2.5 percent, with seven of 11 sectors — including tech and financials — dropping more than 2 percent. The Nasdaq composite pulled back 2.3 percent.
Selling intensified into the close with the Dow losing more than 250 points in the final hour of trading.