The Dow Jones Industrial Average traded firmly lower on Wednesday afternoon, amid a broad downturn in U.S. equities led by sharp fall in industrial giant Boeing Co. BA, -2.97% amid worries of a potential trade war. Shares of the Dow component were cutting about 90 points from the blue-chip benchmark, with the industrial company's stock down about 4% or $13.21. Most recently, the Dow DJIA, -1.84% was off 260 points, or 1%, at 24,747. A $1 move in any one of the Dow's 30 components equates to a 6.89-point swing in the average. Shares of Boeing Co.'s decline puts them on course to suffer their first official correction in nearly two years, amid continued worries over the impact of President Donald Trump's plan to impose tariffs on steel and aluminum, which some fear could spark retaliation from China. The stock has now shed 11.4% since the Feb. 27 record close of $364.64. Meanwhile, the S&P 500 index [: SPX] was down 0.6% at 2,747, while the Nasdaq Composite Index COMP, -0.13% was down 0.5% at 7,476.