(CNBC) U.S. stocks fell sharply on Thursday, pressured by worries of a potential trade war and a decline in tech shares. The broader market was also pressured by a decline in bank stocks.
The Dow Jones industrial average dropped 724 points, with Caterpillar, 3M and Boeing as the biggest decliners. The 30-stock index also entered correction territory for the first time since last month, falling 10 percent from its 52-week high.
The S&P 500 fell 2.5 percent, with tech, health care and financials all falling. The Nasdaq composite pulled back 2.3 percent.