* Dow, S&P and Nasdaq down about 1 pct, off session lows
* Trump plans tariffs on
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* Industrial stocks, led by Boeing and Caterpillar, staylower
* Bond yields drop rise on trade war fears, dent financials(Updates to early afternoon)
By Sruthi Shankar
March 22 (Reuters) -
Trump, according to a presidential memorandum he signed,will target the imports only after a consultation period.
The three major indexes were down roughly 1 percent afterTrump spoke, easing from a slide that saw them drop nearly 2percent earlier as investors fretted over the scale of
"Nothing actually gets put into place today. It looks likethere is going to be at least a 30-day window between now andwhen it actually gets implemented," said Randy Frederick, vicepresident of trading and derivatives for Charles Schwab in
"In the next 30 days the market's going to be concernedabout it, and that means we're going to be in for morevolatility and somewhat limited upside over the next month."
Still, major industrials companies stayed lower. Boeing, Caterpillar and 3M were the biggestdrags on the Dow Jones Industrial Average, sliding 2-3 percent.
At 13:30 p.m. ET, the Dow was down 251.93 points, or1.02 percent, to 24,430.38. The S&P 500 was lower 25.2points, or 0.929228 percent, to 2,686.73. The Nasdaq Compositewas down 69.72 points, or 0.95 percent, to 7,275.57.
Eight of the 11 major S&P sectors were in the red, with fiveof them down more than 1.5 percent. Earlier they were down morethan 2 percent. The defensive utilities, consumerstaples and real estate sectors were higher.
The Cboe Volatility Index, the most widely followedbarometer of expected near-term volatility in the S&P, was up1.9 points at 19.76, near its session lows after hitting athree-day high of 21.24 earlier.
The S&P 500 technology index, the best performingsector over the past year, fell 1.75 percent on fears of greaterregulation in the wake of the Facebook data leak.
Facebook CEO Mark Zuckerberg said he was open to additionalgovernment regulation and happy to testify before the
AbbVie slumped about 11 percent after the drugmakersaid it would not seek accelerated approval for its experimentallung cancer treatment based on results from a mid-stagestudy.
Declining issues outnumbered advancers on the NYSE for a2.29-to-1 ratio, and for a 2.50-to-1 ratio on the Nasdaq.(Reporting by Sruthi Shankar in Bengaluru; Editing by Dan Burnsand Savio D'Souza)