Adding to concerns, a University of Michigan survey showed consumers’ 12-month inflation expectations soared to the highest in nearly 2-1/2 years in March

Nasdaq also sinks more than 1,000 points as investors fret over the potential economic impact of President Trump's latest tariffs.

DuPont dropped 12.5% after China said its regulators are launching an anti-trust investigation into DuPont China group, a subsidiary of the chemical giant. It’s one of several measures targeting American companies and in retaliation for the U.S. tariffs.