(CNBC) Stocks fell sharply on Thursday as investors started to fear the U.S.-China trade war is slowing the economy.
The Dow Jones Industrial Average fell 286.14 points to 25,490.47 as United Technologies lagged. The S&P 500 fell 1.2% to 2,822.24 while the Nasdaq Composite dropped 1.6% to 7,628.28. The Dow fell more than 400 points at its lows, but regained some of its losses in the final hour of trading as Intel shares turned around to close 1.2% higher.
The Dow is now down more than 380 points in two days as Wall Street begins to realize the trade war may last a lot longer than previously expected. Bond yields and crude oil also plunged on Thursday as the rising risk spread through other markets. The 10-year yield fell to its lowest since October 2017. The S&P 500 is down more than 4% so far in May along with the Dow.