Stock market volatility sign that Washington off course

US stocks closed sharply lower on Wednesday, with major indices posting slumps of at least 2 percent, triggering widespread sell-offs in other parts of the world.

While analysts said the mixed corporate earnings performances and other factors, such as geopolitical tensions, are behind the nosedive, there was general agreement that the dampened sentiment was the fallout from the ongoing trade disputes the United States has initiated with its major trade partners.

The Dow Jones Industrial Average lost 2.4 percent, or more than 600 points while the Nasdaq Composite Index plummeted 4.4 percent, its worst day since 2011. The US stock indices have obviously trended down this month after climbing to almost 27,000, making analysts predict worse to come.