Wall Street starts the second quarter in sell-off mode

• US indexes fell to their lowest since February's Black Monday amid resurgent risk aversion.
• Tech sector led the way lower after US President Trump attacked Amazon via Twitter.

Wall Street's return was sort of a big disappointment, as all of the three major indexes lost big. The Dow Jones Industrial Average lost  459 points, to end the day at 23,944.06, the Nasdaq Composite shed 193 points or 2.74% and settled at 6,870.12, while the S&P lost 59 points to close at 2,581.88.

The tech sector led the way lower, with Amazon losing over 5% after US President Trump attacked the company via Twitter, by accusing it of taking advantage of the US Postal Service. Adding to the negative tone of US equities were news coming from China, as the Asian country announced over the weekend new 25% tariffs on US agricultural products.

The Dow Jones fell to an intraday low of 23,335 before bouncing some, slowly heading toward February Black Monday's low at 23,122 and with the market willing to test bulls' determination around it. More relevant, the DJIA bounced back then from a bullish 200 DMA, while today settled well below the indicator, the second time it breaks below it in the last two weeks. The first one resulted in a recovery that anyway stalled short from sending the index into bullish territory. A lower low today, skews the risk toward the downside, particularly considering that market's sentiment seems far from finding a reason to improve.