May 13 (UPI) -- U.S. stock markets plummeted Monday as China escalated trade tensions between the two countries by implementing retaliatory tariffs.
The Dow Jones Industrial Average was down 617.38 points, or 2.38 percent, at the end of trading, while the S&P 500 fell 2.41 percent and the Nasdaq Composite slid 3.41 percent after China announced retaliatory tariffs on $60 billion in U.S. goods.