All of the S&P 500 index's sectors were trading firmly in negative territory in early Wednesday trade, as investors wrestled with escalating tensions between the U.S. and China. The S&P 500 SPX, -0.27% was trading sharply lower, led by declines of more than 2% in the industrials and materials sectors. The S&P 500 was down 1.3% in early trade at 2,579, while the Dow Jones Industrial Average DJIA, -0.56% was off 1.8% at 23,594, with industrial giant Boeing Co. BA, -2.50% leading loses for the price-weighted blue-chip average. China's Commerce Ministry published a list of 106 major American exports that were being targeted in its retaliatory tariff move, and it included airplanes, cars and chemicals, along with soybeans SK8, -3.30% sorghum and beef. Meanwhile, the Nasdaq Composite Index COMP, -0.08% was off 1.2% at 6,858.