India, April 7 -- After moving sharply lower early in the session, stocks have seen substantial volatility over the course of the trading day on Monday. The major averages have spent the day showing wild swings back and forth across the unchanged line.

Currently, the major averages are turning in a mixed performance. While the Dow is down 293.43 points or 0.8 percent at 38,021.43, the S&P 500 is up 0.97 points or less than a tenth of a percent at 5,075.05 and the Nasdaq is up 78.71 points or 0.5 percent at 15,666.50.

Stocks initially extended the sell-off seen over the two previous sessions amid ongoing concerns about the impact of President Donald Trump's new tariffs and retaliatory moves by U.S. trade partners.

Selling pressure waned s...