President Donald Trump is exploring additional tariffs on Chinese imports sparking concerns of a trade war. The markets tumbled to close sharply lower with the Dow collapsing 248 points to 24,758. Nasdaq lost 14 points to 7496.

On the upside

Morgan Stanley affirmed its Overweight rating on Syndax Pharmaceuticals (Nasdaq: SNDX).

Seaspan (NYSE: SSW) acquired the remaining 89% of Greater China Intermodal Investments that it did not already own.

Shares of Carvana (NYSE: CVNA) extended its gains.

On the downside

Investors locked in profits on Babcock & Wilcox Enterprises (NYSE: BW).

Aratana Therapeutics (Nasdaq: PETX) reported a loss for the fourth quarter.

Cheetah Mobile (NYSE: CMCM) announced changes to its Board of Directors.

In the broad market, declining issues outpaced advancers by a margin of more than 4 to 3 on the NYSE and by more than 3 to 2 on Nasdaq. The broader S&P 500 dropped 15 points to 2,749. Bitcoin crashed $999 to $8,115.