(Reuters) – US stocks fell on Monday in a volatile session, with the S & P 500 ending just shy of confirming its second correction of 2018, hurt by fresh worries of an escalation of US-China trade tensions and a sharp drop in big tech Internet names.
Following a morning rally, major U.S. indexes pulled back steeply after a Bloomberg report that the United States is preparing to announce tariffs on all remaining. Donald Trump and Xi Jinping Falter.
"This marketing is more likely to happen in the future," said Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia.
RELATED: Trump's tariffs on Chinese goods
60PICTURES
Trump's tariffs on Chinese goods
See Gallery
Meat: pork; beef intestine; rabbit meat; venison; frog legs
Fish and seafood:live fish including ornamental fish, trout, eels, tuna, and carp; chilled or frozen meat of various types of trout, salmon, halibut, plaice, sole, yellowfin, tuna, herring, mackerel, cobia, swordfish, pollack, whiting, catfish, rays, and more; various types of salted or smoked fish; other seafood including various types of lobsters, crabs, shrimps, prawns, oysters, scallops, mussels, clams, squid, octopus, conchs, abalone, sea cucumbers, and sea urchins.
Non-meat products such as eggs and dairy:Whey products; butter; various types of eggs including chicken; honey; hair of animals including human, hog, horse and badger; animal intestines, bladders; feathers; bones including shells, beaks, corals, hooves, antlers, and more.
vegetables:onions; garlic; cauliflower and broccoli; cabbage; carrots; turnips; radishes; beats; cucumbers; peas of various types; beans; lentils; celery; mushrooms; peppers of various types; squash; okra; sweet corn; potatoes; sweet potatoes and yams; some types of tomatoes; spinach; Brussels sprouts.
Fruit and Nuts: Coconuts; cashews; almonds; hazelnuts; walnuts; chestnuts; pistachios; macadamia nuts; pecans; dates; figs; pineapples; guavas; oranges; mandarins; clementines; grapes; grapes; apples; pears; quinces; peaches; berries including strawberries, raspberries, cranberries, blueberries and others; bananas; a variety of dried fruits; peels of various fruits.
Cereals: wheat, including durum wheat; barley; oats; corn; various types of rice; sorghum grain; buckwheat; quinoa; and more.
Mill products: flours including those form wheat, corn, buckwheat, rice, rye, other cereals, potatoes, and bananas; groats and meal of various types including wheat, corn, oats, and rice; malt; starches of wheat, corn, potato, and more
Oil seeds: soybeans; seeds of sunflower, flax seed, sesame, mustard, poppy and more; planting seeds for certain crops; cocoas and mint leaves; and seaweeds.
Sugars and candies: sugar cane; candies with no cocoa
Breads and Pasta: uncooked pasta; various breads, pastries, cakes, and cookies.
Prepared vegetables and fruits: various vegetables and fruits previously heard in their prepared or preserved forms; various fruit jams including strawberry, pineapple, apricot, and more; peanut butter; various fruit juices including orange, pineapple, lime, grape, apple, and more.
Other food items: soy sauce; condiments and seasonings; protein concentrates.
Beverages and vinegars: water, including mineral water; fruit or vegetable juices and juice mixes; beer from malt; wine, including rice wine; ethyl alcohol; vinegars
Food processing waste and animal feed: brans from processing; oil cakes; dog or cat food; animal feed
Tobacco products: various types and preparations of tobacco; tobacco refuses; cigars; cigarettes; smoking tobacco
Salts and minerals: salt / sodium chloride; sulfur; graphite; quartz; types of clays; chalk; slate; marble; granite; sandstone; dolomite; gypsum; some plasters; some types of cement; mica; Epsom salts
Ores, slag, and ash: ores of iron, copper, nickel, cobalt, aluminum, lead, zinc, tin, chromium, tungsten, uranium, titanium, silver, other precious metals, and others; slag, various types of ash.
Mineral fuels and oils: coal; lignite; peat; coke; tars; various types of light oil; various types of kerosene; petroleum oils; liquefied fuels including natural gas, propane, butane, ethylene, and petroleum; oil shale and tar sands
Inorganic Chemicals: chemicals such as chlorine, sulfur; carbon, nitrogen, oxygen, and silicon; acids including sulfuric, nitric, and more; various types of fluorides, chlorides, sulphates, nitrates, carbonates, and more.
Fertilizers: animal or vegetable fertilizers; urea; ammonium sulphate; sodium nitrate; and more.
Tanning and drying extracts, dyes, and paints
Essential oils, perfumes: perfume; lip or eye make up preparations; manicure or pedicure products; shampoo; hairspray; bath salts.
Soaps and cleaning products: various types of soap; leather and textile treatments; polishes for shoes and furniture.
Glues, adhesives, and enzymes
Photographic goods: various types of photo plates; instant movie; various types of film in rolls; various types of motion picture movie.
Various chemical products: pesticides; herbicides; fungicides
Plastics: vinyl flooring and other plastic floor and wall coverings; sausage casings; bags; gloves including baseball gloves; rain jackets; machinery belts.
Rubber: latex; rods, tubes, and other products; conveyor belts; various types of transmission belts; various types of pneumatic tires; gloves; gaskets; dock fenders.
Raw hides and leather: animal skins including cow, buffalo, sheep, goats, reptile; various types of leather made from cow, buffalo, sheep, goats, reptile; leather trunks and suitcases; leather handbags; CD cases; gloves including ski, ice hockey, and typical use; belts; fur clothing, incluidng artificial fur.
Wood: fuel wood; charcoal; various types of wood including oak, beech, maple, ash and cherry; moldings; rods; particleboard; various types of plywood; doors; corks and stoppers; wicker and bamboo sneakers.
Other textile products, rope, twine: hammocks; net fish; carpets;
Fabrics: corduroy; gauze; terry towel; lace; badges; embroidery
headgear: caps; hairnets; wool hats; head bands
Stone, plaster, cement, asbestos: stone for art; marble slabs; roofing slate; millstones; sandpaper; floor or wall tiles; cement bricks.
Ceramics: fire bricks; pipes; tiles; porcelain and china.
Glass and glassware: balls; rods; drawn gold blown glass; float glass; tempered safety glass; mirrors; carboys, bottles, jars, pots, flasks, and other containers; microscope slides; woven fiberglass
Precious stones and pearls: industrial diamonds; silver and products made of silver; gold and products made of gold; platinum; palladium.
Iron and steel and products derived from the metals:drums; tubes; pipes; doors; windows; screws; horseshoes;
Copper: flat; cables; tubes; pipes; springs
Nickel: bars; rods; wires
aluminum:powder; cable; wire; screws.
Various metal products, tools, cutlery: industrial items made from lead, zinc, tin, and more; saw blades; bolt cutters; hammers; wrenches; crow bars.
Machinery, both industrial and retail: steam turbines; engines; fuel-injection pumps; air compressors; air conditioning machines; refrigerators; cream separators; hydraulic jacks; escalators; manure spreaders; copiers; automatic beverage-vending machines
Electronics: vacuum cleaners; hair clippers; spark plugs; generators; bicycle lights; electric amps; television cameras; various types of TVs; video projectors.
Vehicles and parts: axles; driving shafts; gear boxes; radiators.
Ships and boats: sailboats; Motorboats; canoes; yachts.
Instruments for scientific or medical purposes: microscopes; cameras for non-art purposes; gauges for pressure, electrical currents, and more.
Furniture, bedding, mattresses: car seats; wood chairs; furniture designed for offices, kitchens, and more; mattresses; candlesticks; lamps.
Assorted items: buttons; stamps; paintings; zoological, botanical, mineralogical, anatomical, historical, archaeological interest collections; antiques of an age exceeding one hundred years
HIDE CAPTION
SHOW CAPTION
After the S & P 500 dropped more than 10 percent from its Sept. 20 record high high during the session, the benchmark index pared its losses late to close down 9.9 percent from its peak. The Dow industrials also fell more than 10 percent from its Oct. 3 record close during the session, 8.9 percent from the mark.
On Monday, the Dow Jones Industrial Average <.DJI> fell 245.39 points, or 0.99 percent, to 24,442.92, the S & P 500 <.SPX> lost 17.44 points, 0.66 percent gold, 2.641.25 and the Nasdaq Composite <.IXIC> dropped 116.92 points, or 1.63 percent, to 7,050.29.
Major tech and growth stocks, such as Amazon.com , Google parent Alphabet Inc and Netflix Inc , posted sharp declines. The S & P 500 technology sector <.SPLRCT> fell 1.8 percent.
The industrials sector <.SPLRCI>, which is seen to be sensitive to trade issues, dropped 1.7 percent, with Boeing Co tumbling 6.6 percent.
"Said Chad Morganlander, senior portfolio manager at Washington Crossing Advisors in Florham Park, New Jersey," said the global growth and global trades … continue to overhang for U.S. corporations and global equities.
"Growth stocks typically do poorly in situations of global growth decelerating," he said. "You set yourself up for a more defensive market until it's clear that investors can grab hold of."
Market volatility has spiked in recent weeks, stemming from higher interest rates and worries about the economy and trade tensions. Investors may also be nervous about uncertainty surrounding U.S. congressional elections, now just a week away.
"Probably the most pervasive headwind is concerned about midterm elections," said Kristina Hooper, chief global market strategist at Invesco. "That is weighing down stocks, especially technology is more important about regulation."
Internet stocks may have been bridged by Britain's plan to tax income from online platforms.
In corporate news, shares of software maker Red Hat Inc surged 45.4 percent after the company IBM Corp. for $ 34 billion. IBM shares fell 4.1 percent, weighing on the Dow and S & P.
Investors who are bullish about stocks. But there are also concerns about the extent of a slowdown in earnings growth next year, while the weaknesses in the economy.
Data on Monday showed U.S. consumer spending rose for a seventh consecutive month in September. But income recorded its smallest growth in the future
Declining issues outnumbered advancing ones on the NYSE by a 1.45-to-1 ratio; on Nasdaq, has 1.45-to-1 ratio favored decliners.
The S & P 500 posted three new 52-week highs and 65 new lows; the Nasdaq Composite recorded 23 new highs and 260 new lows.
About 9.3 billion shares changed hands in U.S. exchanges, above the 8.5 billion daily average over the last 20 sessions.
(Additional reporting by Caroline Valetkevitch and April Joyner in New York, edited by Susan Thomas, Chizu Nomiyama and Bill Berkrot)
More from Aol.com:
Wall Street slides as tech, internet stocks tumble