Wall Street saw a massive sell-off on Monday as investors responded to an escalating trade battle between the U.S. and China, after Beijing announced it would be slapping tit-for-tat tariffs on $60 billion of U.S. goods.
Concluding a session of steep losses, the Dow Jones Industrial Average ended down by 618 points, or 2.38 percent, marking the biggest one-day loss for the blue-chip index since January.
At the closing bell, the S&P 500 had dipped 2.4 percent and the tech-heavy Nasdaq Composite ended its worst day this year, down 3.4 percent.
The dramatic trading session saw companies with the greatest exposure to China — such as Dow stalwarts Boeing and Caterpillar — take the largest hits. The tech sector also took a beating, with Apple, United Technologies and Cisco all down around 5 percent.