(CNBC) Stocks fell on Thursday, resuming a deep sell-off this week, ahead of new U.S. tariffs on Chinese goods set to go into effect at midnight.

The Dow Jones Industrial Average fell 138.97 points at 25,828.36 on Thursday, while the S&P 500 dropped 0.3% to 2,870,72 and the Nasdaq Composite lost 0.41% to 7,910.59. The Dow is down more than 650 points and the S&P 500 has lost about 2.5% this week after President Donald Trump threatened to raise tariffs on more Chinese goods over the weekend.

Stocks pared some of the losses on Thursday after Trump said it’s possible to get a trade deal with China this week. The Dow had fallen nearly 450 points at its intraday low.

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