Stocks, bond yields and commodities around the world declined again Wednesday, as worries about slowing economic growth spurred a further retreat from riskier investments.

Risk assets slid to start the day, at one point sending the Dow Jones Industrial Average down more than 400 points and oil prices down more than 3%, before they trimmed some of their drops near the end of the session.

Markets have been stung lately by fears that a drawn-out U.S.-China trade dispute will add pressure on an already slowing world economy. President Trump indicated Monday that a near-term deal between the two sides is unlikely, and economic data pointing to weakness around the globe have added to growth concerns in recent days.

Reports in Chinese media outlets Wednesday that China could cut exports of rare-earth metals critical to products ranging from electronics to military equipment were the latest trigger for trade-related volatility, investors said.

“The industrial side of the world is still slowing, and that’s concerning,” said Paul Zemsky, chief investment officer of multiasset strategies and solutions at Voya Investment Management. “While I think the U.S. will continue to plow through, the rest of the world becomes more questionable.”