Stock Markets Reel as Trump's Tariff Announcement Shakes Wall Street

Major U.S. stock indexes fell sharply after President Trump announced a new 25% tariff on Canada and Mexico, marking the largest decline since December 18. The announcement caught investors off guard, leading to significant losses, especially in energy and technology sectors, while defensive sectors made gains.

Wall Street's primary stock indexes took a significant hit Monday after President Donald Trump declared the imposition of 25% tariffs on imports from Canada and Mexico.

This move led the S&P 500 to record its worst daily percentage drop since December 18, intensifying concerns among investors who had already been jittery following an ISM survey indicating a decline in manufacturing sentiment.

Energy and technology sectors were the hardest hit, while defensive sectors like real estate and healthcare saw minor gains, reflecting the market's shift in sentiment amidst growing economic uncertainties.

(With inputs from agencies.)