Global stock markets slumped, the dollar strengthened, oil prices rose, with U.S. stock market futures down sharply Monday, after President Trump imposed tariffs on imports from key trading partners Mexico,

Asian stocks and currencies took a sharp downturn on Monday morning following the US imposition of tariffs on imports

U.S. equity futures tumbled in early Monday trading, while energy prices leaped and the dollar soared to a two-year high against its currency peers as markets reacted to the weekend tariff announcements of President Donald Trump and their potential to trigger a global trade war.

U.S. President Donald Trump on Saturday announced 10 percent tariffs on Chinese goods — as well as 25 percent tariffs on imports from Canada and Mexico — and has threatened to impose similar measures against the European Union. Canada and Mexico immediately vowed retaliatory measures.

Wall Street opened lower after Trump's tariffs on Mexico, Canada and China, sparking fears of trade wars that'll slow economies and ignite inflation.

Trudeau said Canada will implement 25% tariffs on $155 billion worth of U.S. goods, while Sheinbaum said she has instructed officials in her government to implement what she calle

Japanese stocks plunged, with the Nikkei average losing almost 3% at one point, after President Donald Trump slapped tariffs on the United States’ top three trade partners, threatening major economic disruption.