Markets sold off on Monday as investors digested Donald Trump's tariff announcements on Mexico, Canada, and China.

Worries about President Trump’s tariffs are hurting U.S. stocks as financial markets worldwide drop on concerns about a potential trade war.

Stocks surrendered early gains and closed lower after the White House said President Donald Trump would impose promised tariffs on some key U.S. trading partners.

The dollar strengthened, oil prices rose and major stock indexes in the U.S. fell at the start of trading on Monday, The New York Times reported. Markets in Asia and Europe also fell after Trump's weekend announcement of 25% tariffs on imports from Mexico and Canada. He plans a 10% tariff on Canadian energy products and Chinese goods.

Investors braced for a trade war after President Donald Trump imposed tariffs on goods from Canada, Mexico and China and pledged tariffs on the European Union.

It’s the bet Wall Street made as soon as Donald Trump was elected president. For all the threats of tariffs against US allies and rivals, stock vigilantes were skeptical that he’d do anything to really damage the stock market.

D: President Trump’s threat to impose new U.S. tariffs on imports from China, Mexico and Canada drove down stocks multiple sectors Monday, with shares of several media companies falling as investors grappled with America’s new trade wars.