1st LD: U.S. stocks plummet amid trade worries, tech rout

NEW YORK, April 2 (Xinhua) -- U.S. stocks traded sharply lower on Monday, with all three major indices tumbling over 3 percent in the afternoon trading, as worries about trade tensions and a sharp decline in tech shares weighed on investor sentiment.

In late trading, the Dow Jones Industrial Average slumped 723.27 points, or 3.00 percent, to 23,379.84. The S&P 500 dropped 82.34 points, or 3.12 percent, to 2,558.53. The Nasdaq Composite Index lost 251.28 points, or 3.56 percent, to 6,812.17.

China suspended tariff concessions on 128 items of U.S. products including pork and fruits starting Monday, according to the Ministry of Finance.

The Customs Tariff Commission of the State Council has decided to impose a tariff of 15 percent on 120 items of products imported from the United States including fruits and related products, and a tariff of 25 percent on eight items of imports including pork and related products from the country, according to a statement posted on the ministry website.

The statement said it was a countermeasure in response to a previous U.S. move to slap tariffs on steel and aluminum imports.

Despite worldwide objections, the U.S. administration decided to impose a 25-percent tariff on steel imports and a 10-percent tariff on aluminum, with tariffs on imports from countries including China.

A sharp decline in tech sector, leading by Amazon, also rattled nervous investors. shares of Amazon slumped nearly 6 percent in the late trading on Monday after U.S. President Donald Trump tweeted on Saturday that Amazon was scamming the U.S. Postal Service, adding the service loses "billions of dollars" delivering packages for the e-commerce giant. Enditem