U.S. stocks tumbled, heading for their biggest one-day slide in months, as fresh escalations in the global trade conflict sent investors fleeing from some of the market's most-beloved technology firms. Fresh jabs between the White House and China exacerbated investor fears about a full-blown trade war. President Donald Trump is moving to bar Chinese companies from investing in U.S. tech firms and block additional tech exports to the country, in his latest effort to pressure Beijing. Chinese President Xi Jinping told a group of multinational chief executives that Beijing would "punch back." The blue-chip index fell as much as 446 points The Dow was recently down 1.3%. The S&P 500 dropped 1.4%, and the tech-heavy Nasdaq Composite fell 2.1%. Monday's selling entangled a sector of the stock market that had been relatively resilient to the rise in trade tensions over recent months. Technology stocks have been a standout in the S&P 500 this year, rising 9.5% compared with the S&P 500's 1.5% gain. Companies like Twitter, Nvidia and consumer-discretionary firm Amazon.com have surged more than 40% apiece as investor’s funnelled money into firms upending everything from communication to brick-and-mortar retail. Technology companies in the S&P 500 pull in about 59% of their revenues from overseas, giving them the highest foreign exposure of the broad index's 11 sectors, according to FactSet and BofA Merrill Lynch data. The US gold price decreased 0.3% to 1,265.10 US$/oz.
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