Wall Street slides on tech rout

Dow Jones Industrial Average Technicals in Focus

US tech sell-off and trade war fears dent Asian stocks

In the cash market, the benchmark S&P 500 Index settled at 2640.87, up 2.0%.

Shares of Silicon Valley darling Tesla were off 5.1 percent following questions about its self-driving technology system known as Autopilot.

Equities in Japan, China, and South Korea declined during late Monday trading, reversing an earlier advance.

"I don't think we're in the clear", said Dennis Dick, head of markets structure, proprietary trader at Bright Trading LLC in Las Vegas.

General Motors climbed 3 percent to $36.83 and Ford rose 2.6 percent to $11.14 after the two automakers said their sales improved in March following a rough patch at the beginning of the year.

Trader Peter Tuchman, center, stands on the floor of the New York Stock Exchange while waiting for Spotify's IPO, Tuesday, April 3, 2018.

As has been the case, a negative tweet about Amazon - one of the biggest market drivers - sends the firm's shares tumbling and often the rest of the market in tandem.

With the S&P 500 in a 10 per cent correction from its record high in late January, investors were increasingly concerned a nine-year bull market might be in danger of ending.

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Trading in France, Germany and Britain was closed for Easter.

Stocks have been trending lower for weeks largely because of a series of tariffs announced by U.S. President Donald Trump and the Facebook data privacy scandal, which has raised the prospect of tighter regulation for social media and other tech stocks. It's also imposing a new 15 percent tariff on 120 imported USA commodities, including fruits. In the oil markets, a barrel of US crude gained 22 cents to $63.23 per barrel in electronic trading on the New York Mercantile Exchange while Bren crude, used to price worldwide oils, rose 29 cents to $67.93 in London.

Stocks post a higher open following yesterday's selloff, with tech stocks trimming their recent string of steep losses; S&P +0.4%, Dow and Nasdaq both +0.5%.

The Dow Jones industrial average fell 476 points, or 2 percent, to 23,624. THEY LOSE A FORTUNE, and this will be changed.

Energy companies skidded as benchmark US crude lost $1.93, or 3 percent, to $63.01 a barrel in NY. "What may happen here is we see retaliation from China specific to technology".

Humana (HUM) shares rose following continued reports Walmart (WMT) could buy the company or form a partnership with the health insurer.The Wall Street Journal reported on the possible deal last week. Nvidia, a chipmaker that reportedly stopped its own work on products for semi-autonomous cars after the recent incidents, lost $9.17, or 4 percent, to $222.42.

The Nasdaq composite lost 2.74 percent, closing in correction territory for the first time.

Against the yen, the dollar remained on the back foot after slipping below the 106 level in the last session. Over the past five years, Amazon's share value has increased 424 percent, Apple has grown 172 percent, Facebook 509 percent and Tesla 475 percent. The euro dipped to $1.2288 from $1.2306.

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