NEW YORK (1010 WINS/AP) -- Stocks are falling sharply on Wall Street as the U.S. and China move closer to an escalation of their trade fight -- in fact, it's been the worst 2 days for the Dow Jones Industrial Average since January.
The Dow spent most of the afternoon above 550 points, nearing 600 points.
Technology companies, which rely heavily on trade with China, bore the brunt of the selling on Tuesday. Apple lost 2.1% and Microsoft gave back 2.2%
China's top economic official will travel to Washington this week ahead of a Friday deadline by which Washington said it would sharply raise tariffs on Chinese goods.
Safe-play sectors like utilities held up better than the rest of the market.