New York (CNN Business) The Dow plunged Monday after China said it will raise tariffs in retaliation to last week's tariff increase by the United States.

China hiked tariffs on $60 billion of imports from the United States. It first imposed the tariffs last year.

Worries over the escalation of the trade spat with China just aren't going away.

S&P 500 SPX Nasdaq COMP US stocks ended the day sharply lower. The Dow closed down 617 points after falling as much as 719 points earlier in the day. Thefell 2.4% and thedropped 3.4%.

The Dow and S&P 500 had their worst day since January 3, according to Refinitiv. The Nasdaq had its worst day of 2019 and biggest one-day drop since December 4, 2018.