Stocks are falling sharply in late afternoon trading on Wall Street, putting the market on track for its worst month since the Financial Crisis.
The Dow Jones Industrial Average slumped more than 500 points Monday, pulled down by big losses in Boeing and Apple.
The S&P 500 index is more than 10% below its September peak. The last time the market had a drop that steep was February.
Stocks started higher but began to sink after Bloomberg reported that the U.S. could announce tariffs on all remaining imports from China by December.
The S&P 500 fell 24 points, or 0.9%Â Â to 2,634.
The Dow gave up 343 points, or 1.4%, to 24,348. It was down 566 earlier.
The Nasdaq fell 163 points, or 2.2%, to 7,009.
Red Hat rocketed 48.5%Â after IBM agreed to buy the software company for $34 billion in stock. IBM fell 2.4%.
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