India, Dec. 6 -- After falling sharply at the open, stocks have seen some further downside during the trading session on Thursday. With the sell-off on the day, the major averages are extending the sharp pullback seen during trading on Tuesday.

In recent trading, the major averages have climbed off their worst levels of the day but remain firmly negative. The Dow is down 584.66 points or 2.3 percent at 24,442.41, the Nasdaq is down 98.51 points or 1.4 percent at 7,059.92 and the S&P 500 is down 56.86 points or 2.1 percent at 2,643.20.

The continued sell-off on Wall Street reflects skepticism about the potential for a long-term trade agreement between the U.S. and China after the arrest of a top executive at Chinese tech giant Huawei.