2nd LD: U.S. stocks trade lower amid trade concerns

NEW YORK, April 4 (Xinhua) -- U.S. stocks traded lower on Wednesday, as investors were monitoring the latest developments of the trade relations between China and the United States.

At midday, the Dow Jones Industrial Average lost 225.48 points, or 0.94 percent, to 23,807.88. The S&P 500 decreased 16.19 points, or 0.62 percent, to 2,598.26. The Nasdaq Composite Index was down 47.48 points, or 0.68 percent, to 6,893.80.

China on Wednesday unveiled a list of products worth 50 billion U.S. dollars imported from the United States that will be subject to higher tariffs, including soy bean, automobiles and chemical products.

The move was taken after the U.S. administration announced a proposed list of products subject to additional tariffs, which covers Chinese exports worth 50 billion dollars with a suggested tariff rate of 25 percent.

The date of implementation will depend on when the U.S. government imposes the tariffs on Chinese products, the Ministry of Finance said.

The Ministry of Commerce (MOC) said in a statement that the U.S. move was "an evident violation of relevant rules of the World Trade Organization (WTO)."

The U.S. move "severely infringed on the legitimate rights and interests that China enjoys in accordance with the WTO rules, and threatened China's economic interests and security," the MOC said.

U.S. equities slumped earlier in the day amid trade concerns, with the Dow plunging over 500 points. The VIX Index, which measures the market's expectation of future volatility, surged 8.34 percent to 22.86 at midday trading. Enditem