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The Dow Jones Industrial Average on Wednesday dropped its most important points gain since February, selling stocks of banking and technology companies and the internet offsetting gains in the energy sector in full resurgence.
The Dow
DJIA, -0.68%
finished the session of 165.52 points, or 0.7%, to 24,117.59, after the blue-chip tally hit an intraday high up 285.91 points. This decline represents the largest turnaround of the Dow since February 21, while the gauge increased by 303.24 points to finish down 166.97 points, according to WSJ Market Data Group. The S & P 500 index
SPX, -0.86%
It also posted its biggest advance since February, after peaking at 0.85%, but ended the session down 0.9% to 2,699, to close below a psychological level of 2,700 for the general index.
Wednesday's reversal comes as trade concerns have raised concerns among investors, fearing that the current craze between the United States and its trading partners, China and the European Union , does not turn into a trade war affecting global economies.
An early break-up in the session, partially supported by a White House statement that seemed to imply a more moderate approach by President Donald Trump to curb Chinese investment in US technology companies, has given way to sales.
The Nasdaq composite index laden with technology
COMP -1.54%
given the focus on technology, has seen a steeper decline over the day, down 1.5% to 7.445.08.
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