Dow Jones falls over 330 points as trade tensions resurface

US stocks declined at Wednesday’s close, as trade tensions resurfaced following reports that the White House was considering imposing more restrictions on technology exports to China.

The Dow Jones Industrial Average edged down 0.71%, or 334 points, to 46,590 points.

Meanwhile, the S&P 500 Index fell 0.53%, or 35 points, to 6,699 points, while the Nasdaq Composite inched down 0.93%, or 213 points, to 22,740 points.

The technology sector came under pressure after Netflix and semiconductor maker Texas Instruments reported weaker-than-expected financial results, leading to declines of 10% and 5.6%, respectively, in their share prices.

In Europe, the Stoxx Europe 600 index dropped 0.20% to 572 points at the close, with most sectors and major markets ending in negative territory.

The German DAX 40 retreated 0.75% to 24,151 points, the French CAC 40 lost 0.65% to 8,206 points, while the British FTSE 100 rose 0.95% to 9,515 points.

In Japan, the Nikkei 225 remained stable at 49,307 points, while TOPIX advanced 0.50%, hitting a new record close at 3,266 points.

In the oil market, futures contracts for Brent crude for December delivery surged 2.10%, or $1.27, to $62.59 per barrel.

Meanwhile, prices of West Texas Intermediate (WTI) crude oil for December delivery added 2.20%, or $1.26, settling at $58.50 per barrel.

As for gold, futures prices for the yellow metal for December delivery shed 1%, or $43.7 to $4,065.4 per ounce, marking the lowest close since Oct. 12.