US stocks fell on Tuesday as renewed concerns over a trade war between the United States and China weighed on investor sentiment.

China announced new sanctions against five US companies affiliated with South Korean shipbuilder Hanwha Ocean, saying the move was aimed at protecting national security.

The decision came after President Donald Trump threatened to impose 100% tariffs on Chinese goods starting in early November in response to China tightening export restrictions on rare earth minerals.

Later today, Federal Reserve Chair Jerome Powell is expected to deliver a speech at the annual meeting of the National Association for Business Economics.

As of 16:13 GMT, the Dow Jones Industrial Average fell 0.1% (or 45 points) to 46,022, while the broader SP 500 declined 0.4% (or 29 points) to 6,625. The Nasdaq Composite dropped 0.99% (or 224 points) to 22,469.