US stock indices declined at the open on Monday on worries over a full-blown trade war after President Donald Trump imposed steep tariffs on Mexico, Canada and China.
Fears of a global trade war and its impact on the world economy also jolted the stock markets around the world.
At the opening bell, the Dow Jones Industrial Average fell 276.5 points, or 0.62%, to 44,268.15. The S&P 500 fell 70.9 points, or 1.17%, to 5,969.65, while the Nasdaq Composite dropped 412.1 points, or 2.10%, to 19,215.375.
Trump’s tariffs
President Trump said his tariffs on the three largest US trading partners, which take effect on February 4, might cause Americans some short-term pain, but “long term, the United States has been ripped off by virtually every country in the world”.
He also indicated that the 27-nation European Union would be next in the firing line, but did not say when.
“They don’t take our cars, they don’t take our farm products. They take…
