US stocks slid on Wednesday amid a broad selloff on escalating trade war tensions after the United States threatened to impose tariffs on an additional $200 billion worth of Chinese goods.
Washington on Tuesday issued a list of thousands of Chinese imports that the Trump administration wants to target with new tariffs. In response, China accused the United States of bullying and warned it would hit back.
At 10:04 a.m. EDT the Dow Jones Industrial Average was down 141.78 points, or 0.57 percent, at 24,777.88, the S&P 500 was down 11.70 points, or 0.42 percent, at 2,782.14 and the Nasdaq Composite was down 22.36 points, or 0.29 percent, at 7,736.84.
The defensive utilities sector was the only one in the positive territory, with a 0.35 percent gain.
Fastenal's shares rose 5.4 percent, the most on the S&P, after the industrial products distributor's Q2 revenue and profit topped estimates.
The next biggest gainer was TripAdvisor, which rose 3.4 percent on a Barclays rating upgrade.
Declining issues outnumbered advancers for a 2.19-to-1 ratio on the NYSE and a 1.40-to-1 ratio on the Nasdaq.
The S&P index recorded eight new 52-week highs and one new low, while the Nasdaq recorded 27 new highs and 18 new lows.