The stock market’s gains for 2018 were erased on Tuesday, as a sell-off led by giant technology stocks continued. The renewed declines in the United States came after drops in Asia and Europe.

The tumble of more than 1.8 percent in the S&P 500 followed a sell-off in high-flying technology stocks like Google, Apple and Amazon in the United States on Monday, as investors weighed the prospects for increased regulation, trade tension and threats to the profit outlook for the large technology companies that exert a large influence on major market indexes.

[Read how the stock market’s slide is flashing warning signs about the economy.]

The pain persisted for such companies on Tuesday with Apple and Amazon falling by more than 4 percent in early trading. But a new area of concern also flared after the retailer Target reported third-quarter sales and profit that missed Wall Street expectations.

The softness in retail shares reflects growing investor concern that the strong American economy — which has so far shrugged off Federal Reserve interest rate increases and signs of weakness in China and Europe — is likely to face increasing challenges in 2019, as the impact of federal tax cuts and spending increases diminishes.