After approximately three hours of trading, the Dow Jones industrial index has fallen 2.7 percent, the broad S&P index 2.8 percent, and the technology-heavy Nasdaq composite index 3.1 percent.
The electric car company Tesla continues to plummet, having fallen 6.9 percent. Since the turn of the year, the share has thus fallen almost 45 percent.
The iPhone manufacturer Apple and technology giant Amazon are down 3.1 and 3.3 percent, respectively.
Among the explanations for Wall Street's gloom is that market players are unwilling to invest until more clarity is achieved regarding the tariff negotiations that President Donald Trump's government is engaged in with a number of countries.
The US dollar reached its lowest level in three years on Monday afternoon in an international index, reports CNBC.
A dollar now costs 9.54 kronor. This can be compared to Wednesday, when the exchange rate was 9.77 kronor. In January, a dollar cost 11.25 kronor.
Regarding the dollar, analysts also point to the growing rift between Trump and central bank chief Jerome Powell on the level of interest rates.
The major European stock exchanges in Frankfurt, London, and Paris remain closed for the holiday, as is the Stockholm Stock Exchange.
