The Dow fell more than 700 points before recovering to close down 1.9 percent. Amazon tumbled more than 5 percent after President Trump criticized the company in tweets.
China has imposed tariffs on a long list of U.S. produced goods in retaliation to U.S. imposed tariffs on Chinese steel and aluminum. Beijing's list is long on fruits and nuts, but also includes pork products and some manufactured goods.
The tariffs China just imposed on American-made items will cost the U.S. about 3 billion dollars a year. That's not much to the nation, but it's a big deal if you make one of the products on the list.
Agricultural products such as wine, nuts and frozen pork are on China's tariff list of U.S. goods, which comes in retaliation to a similar move by the Trump administration.
Ajmal Faqiri came to the U.S. on a Special Immigrant Visa after working as a interpreter and translator for the U.S. military in his home country of Afghanistan. Now, he works the gig economy.
Nearly all financial indicators suggest Americans are optimistic about the economy. But, it's not clear that it's benefiting President Trump or the Republican Party.
Technology stocks ranging from Amazon to Facebook to Apple have been hammered in recent days, driving broader declines in the market. There are growing calls to regulate big tech companies.
Between 2009 and 2015, the number of independent bookstores grew by 35 percent. This happened during the so-called "retail apocalypse," which has pitted Amazon against every retail outlet in America.