US equities closed sharply down on Wall Street, driven by larger losses from large tech companies.

Apple, Microsoft and Facebook have all been under strong selling pressure on Monday. Industrial companies were also beaten. Boeing was the main drag on the Dow Jones industrial average with a loss of 4.5%.

The losses were suffered after the United States and China clashed at the Pacific summit this weekend, giving rise to disproportionate hope last week that the two economic giants are making progress in resolving their serious trade dispute. Discussions are ongoing ahead of a meeting between Chinese President Xi Jinping and President Donald Trump scheduled for the G-20 summit later this month.

The Dow lost 396 points, or 1.6%, to 25,017. It was down 512 points. The broader Standard & Poor's 500 stock index lost nearly 46 points, or 1.7%, to 2,691. The Nasdaq composite, rich in technology, experienced the largest declines, with down 219 points, or 3%, to 7,029.

Retailers and industrial stocks also fell. Apple dropped by nearly 4% and Microsoft by 3.4%, while the Amazon Internet retailer dropped by 5.1%.

High dividend stocks, such as real estate companies and utilities, which investors favor when fearing market turbulence, have held up better than the rest of the market.

Shares of Nissan automaker sank after the arrest of its president for misconduct.

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TECH LOSS MOUNT

Apple dropped 3.96% to $ 185.86 and Facebook lost 5.7% to $ 131.55. Microsoft lost 3.4% to $ 104.62. The chip maker Nvidia has again dropped 12% to 144.70 USD after declaring last week that it owned a large number of unsold chips because of a sharp decline in the exploitation of cryptomonnaies.

DISTRIBUTION IN NISSAN

Nissan said its president, Carlos Ghosn, was arrested on Monday and would be dismissed after allegedly under-reporting his income. Nissan said an internal investigation had revealed that Mr. Ghosn had underreported his multi-million dollar income and that he had committed other "serious misconduct".

US Nissan shares traded in the United States lost 5.5% to $ 16.96. In Paris, the shares of Nissan's partner, Renault, lost 8.4%.

NET LOSSES

Amazon paid 5.1% to $ 1,512.29 US and Nike 3% to $ 72.52. Netflix fell 5.5% to $ 270,608.

Caterpillar fell 3.1% to $ 125.98. Subcontractor Raytheon lost 3.1% to $ 176.44.

The benchmark US crude canceled an anticipated loss and increased 0.2% to $ 56.55 per barrel in New York. US crude prices have fallen for six consecutive weeks and are trading around their lowest level in about nine months.

The parent company of California-based Pacific Gas & Electric fell again after revealing a power line failure at the start of a deadly fire on the morning of the fire. San Jose's Mercury News reported Saturday that the company had said in a statement that it was down at 8:45 am on Nov. 8 at Concow. The authorities claim that 76 people were confirmed dead in the camp fire. The title has lost half of its value since November 8, despite a major rally Friday.

Bond prices have gone up. The 10-year Treasury Note yield fell from 3.07% to 3.06%.

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