Dow slides 286 points with no end to U.S.-China trade war in sight

May 23 (UPI) -- The Dow Jones Industrial average fell nearly 300 points on Thursday as investors worried about the effect of the trade war between the United States and China on the economy.

At its lowest point during the day, the index was down 444 points, before ultimately ending the day down 286.14 points, or 1.11 percent. The Dow has fallen more than 380 points over a two-day stretch amid concerns that an end to the ongoing trade war may not be in sight.

The S&P 500 also fell 1.19 percent and the Nasdaq dropped 1.58 percent.

Effects of the ongoing trade war sent shares of Apple falling 1.71 percent, while Boeing slid 0.63 percent and NVIDIA plummeted 3.21 percent.

Energy stocks also suffered, as Hess fell 7.93 percent and Halliburton dropped 4.97 percent.

A study by the International Monetary Fund found that the trade war is causing more damage to the United States than China.

The dispute has lasted for more than a year and most recently escalated earlier this month when the United states raised tariffs on $200 billion worth of Chinese goods from 10 percent to 25 percent after U.S. officials accused Chinese negotiators of backing away from a proposed deal.

President Donald Trump also has announced plans to implement 25 percent tariffs on all remaining Chinese goods in the near future.