The Dow Jones Industrial Average dropped 560 points, or 1.27%, while the S&P 500 declined 1.6%, falling 95 points. The Nasdaq lost 1.95% to drop nearly 400 points and the Russell 2000, which tracks small-cap stocks, fell 2.3% or 52 points.

The stock market fell on Monday after President Donald Trump slapped tariffs on Canada, Mexico and China, eliciting threats of retaliation and setting the stage for a trade war. The Dow Jones Industrial Average slid about 550 points, or 1.25%, in early trading on Monday. The S &P 500 dropped 1.5%, and the tech-heavy Nasdaq plummeted 2%.