Black Monday: Tech rout pulls Dow down 700 points, Nasdaq falls 3.5%

The Nasdaq 100 Index lost 2.8% as investors continued to offload some of the bull market's biggest gainers

US stocks tumbled to start the second quarter, as the weakness in technology shares worsened amid renewed presidential criticism of Amazon.com and retaliatory tariffs from China. Treasuries pared losses and gold rallied.

All the 11 major S&P sectors fell, with markets also coming under pressure from renewed fears of a global trade war after China imposed additional tariffs on 128 U.S. products.

Dow Jones fell over 700 points, or 2.97 per cent, when reports last came in.

The S&P 500 Index slumped for the sixth time in eight days, punching through its average price for the past 200 days,