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All three major indexes fell well below their 50-day moving average lines at the open, failing a key test of support.

But the market headed sharply lower after the U.S. imposed visa bans on Chinese officials for human rights violations against Muslims in Xinjiang.

Chip stocks selling off more than 3% apiece included Marvell Technology ( MRVL ), Monolithic Power Systems ( MPWR ) and Nvidia ( NVDA ).

Among IBD 50 winners, SolarEdge Technologies ( SEDG ) rose 2% and Kirkland Lake Gold ( KL ) gained 2.9%.