US stocks fell sharply amid worsening of trade relations between US and China

Beijing. April 3. Silkroadnews - The three major US stock indices posted heavy falls as China raised tariffs for US food imports, according to the Australian television channel ABC.
The Dow Jones industrial average closed 1.9 per cent — more than 450 points — lower, at 23,644, reclaiming some ground in late trade after earlier falling more than 700 points. The broader S&P 500 index lost 2.2 per cent. Food companies were hit hard following the news of China's tariffs, including shares in processed food maker Tyson Foods, which fell 6.2 per cent, the publication reads.
Technology stocks continued to experience pressure, with the Nasdaq index falling more than others.
Shares of Amazon lost 5% after the U.S. President Donald Trump continued his attack on the company via Twitter.
In a series of tweets, Trump accused Amazon of damaging the US Post writing “it is reported that the US Post Office will lose $1.50 on average for each package it delivers for Amazon ... This Post Office scam must stop. Amazon must pay real costs (and taxes) now!”
Intel’s shares fell by 6%, after Apple announced its plans to switch from using Intel’s computer chips to its own production chips in Mac computers by 2020.
Energy stocks could come under pressure after a strong fall in oil prices.
Nevertheless, it is expected that the Federal Reserve Bank will hold the interest rates unchanged.