The Nasdaq fell 2.6% Monday after Trump vowed to implement the Canada and Mexico tariffs, as the tech index is down 8.5% from its all-time high set less than two weeks ago.

Key Takeaways Shares of Nvidia were down 10% Monday afternoon, falling into bear market territory. The company's latest quarterly financial results raised questions about what was next for the stock—and the AI trade—and uncertainty driven by US trade policy has further concerned investors.

U.S. President Donald Trump said on Monday that 25% tariffs on goods from Mexico and Canada will take effect on Tuesday, stoking fears of a trade war in North America and sending financial markets reeling.