Stocks kicked off the week on a sour note Monday as Wall Street braced for more actions against Chinese companies by the Trump administration.

The Dow Jones Industrial Average dropped 328.09 points to close at 24,252.80, with Boeing and Intel among the biggest decliners in the index. The 30-stock index also closed below its 200-day moving average, a key technical level, for the first time since June 2016.

The Dow rebounded slightly in the final hour of trading after Peter Navarro, a top trade adviser to President Donald Trump, said on CNBC that investment restrictions against China and other countries are not immediately forthcoming and that the market was overreacting.

“He basically said ‘hey guys, it's Trump playing the ‘Art of the Deal’ with China,” said Scott Redler of T3Live.com.

The fell 1.4 percent to 2,717.07 — posting its worst day since April 6, when it fell 2.19 percent — as tech declined 2.3 percent. Five of the 11 S&P 500 sectors also closed in correction, or down at least 10 percent from their 52-week high. The Nasdaq composite pulled back 2.1 percent to close at 7,532.01 as Netflix dropped 6.5 percent to lead the FANGs lower.

Harley-Davidson shares fell about 6 percent after the company announced it will shift production of motorcycles headed for Europe to factories outside the U.S. The company sold nearly 40,000 bikes to the European Union, second only to the U.S.

“This is a case where you have widespread optimism and that leaves little room for error,” said Willie Delwiche, investment strategist at Baird. “It leads to a scenario where you sell first and ask questions later.”