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Fortune

Jason Ma

Dow tumbles more than 600 points as Trump confirms aggressive tariff agenda, killing hopes for a last-minute reprieve and sending stocks reeling

Donald Trump United States Canada Dow Jones Industrial Average Mexico

(Credit: Spencer Platt—Getty Images)

US stocks sank Monday after President Donald Trump confirmed tariffs on Mexico and Canada will go into effect on Tuesday and said reciprocal tariffs will come next month. That comes as economic indicators have deteriorated in recent weeks, raising concerns that GDP will flip from expansion into contraction.

U.S. stock markets sold off sharply on Monday after President Donald Trump dashed hopes that he would hold off again on imposing tariffs on Canada and Mexico.

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