The stock market race is due to increasing concerns about the US economy and an escalated trade war. The technology -heavy Nasdaq composite index fell as much as 4 percent, which is the worst trading day since September 2022.
The Dow Jones industrial index and the S&P 500 also noted sharp declines.
For, among other things, electric car manufacturer Tesla, it has been a lead -heavy day. The share raged over 15 percent. It is now down almost 40 percent since the turn of the year.
The giants Alphabet and Meta also fell heavily, with over 4 percent each.