U.S. stocks close higher after sharp declines

NEW YORK, April 3 (Xinhua) -- U.S. stocks ended higher on Tuesday after sharp declines in the previous session.

The Dow Jones Industrial Average added 389.17 points, or 1.65 percent, to 24,033.36. The S&P 500 increased 32.57 points, or 1.26 percent, to 2,614.45. The Nasdaq Composite Index was up 71.16 points, or 1.04 percent, to 6,941.28.

U.S. equities slumped on Monday, the first trading day in April, as worries about trade issues and a sharp decline in the technology sector weighed on the market. The Dow lost over 450 points when the market closed, while the tech-heavy Nasdaq erased over 2.7 percent.

In corporate news, shares of Amazon rebounded nearly 1.5 percent on Tuesday after declining over 5 percent in the previous session.

U.S. President Donald Trump on Saturday attacked Amazon for scamming the U.S. Postal Service, adding the service loses "billions of dollars" delivering packages for the e-commerce giant.

Investors were also monitoring the developments of trade relations between China and the United States.

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

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