The S&P 500 fell as much as 11 percent from its all-time high before paring the drop in the final 15 minutes of trading. The Nasdaq 100 Index tumbled to the lowest level since May. The S&P 500 and Nasdaq indexes are on track for the steepest monthly declines of the record-long bull market. Selling intensified after Bloomberg reported the U.S. is preparing to announce by early December tariffs on all remaining Chinese imports if talks next month between presidents Donald Trump and Xi Jinping fail to ease the trade war.

Source: U.S. Tech Stocks Sink on Trade Angst: Markets Wrap