Wall Street slid in midday trading on Monday, while government bonds and other haven assets rose as escalating economic tensions between the US and China spurred a rush for safety.
US stocks suffered under the weight of a sell-off in technology shares that fell amid antitrust scrutiny of Alphabet and Facebook, whose shares tumbled 6.8 per cent and 7.9 per cent, respectively.
The S&P 500 shed gains seen in morning trade to fall 0.6 per cent. The communications services sector, which counts Facebook and Google owner Alphabet among its members, slipped 3.1 per cent. The tech sector was down 0.9 per cent.
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