New York (CNN Business) The Dow and the broader stock market closed sharply lower on Tuesday. Investor sentiment soured after US and Chinese tariffs went into effect over the weekend, and economic data pointed at further weakness in manufacturing.

Intensifying concerns about Brexit and the tumult it could bring to the UK and European economies didn't help.

US stocks finished lower across the board, after spending all day in the red. The Dow and the S&P 500 snapped a three-day winning streak.

Dow INDU S&P 500 SPX Nasdaq Composite COMP Theclosed down 1.1%, or 285 points. At its weakest point Tuesday, the index was down more than 400 points. Thefinished 0.7% lower and thefell 1.1%.

The Institute of Supply Management's manufacturing index for August came in at 49.1 — its lowest level since January 2016 , and worse than the 51 number that economists had expected. A level below 50 indicates that activity at America's factories contracted. August marked the first time in three years that the manufacturing sector shrank.