The Dow Jones Industrial Average saw losses accelerate in Friday afternoon trade, pushing the blue-chip gauge beneath its lows of early February. The Dow DJIA, -1.13% was off about 28 points recently, or 0.1%, at 23,920, but was down as many as 123 points at 23,833.92. That nadir is below the benchmark's closing low at 23,860.46 hit on Feb. 8, when it officially entered correction territory, defined as a drop of at least 10% from a recent peak. The intrasession downdraft for the equity gauge comes amid intensifying concerns about a potentially, market-disruptive trade war between China and the U.S. Beijing reacted to Trump administration's plans to impose tariffs, as Beijing's commerce ministry fired back with a threat of tariffs, targeting $3 billion in U.S. goods. The S&P 500 index SPX, -1.42% was off 0.4% at 2,632, while the Nasdaq Composite Index COMP, -1.61% was down 0.7% at 7,116. Market technicians watch an assets highs and lows to gauge whether a bullish or bearish trend is forming. When an asset puts in a new low that is typically viewed as a signals the chance of more downside risk.