The financial community watched Wall Street and its broader market averages close out Monday's trading session deep in the red as fear strikes over Donald Trump's tariff plans caused a large sell-off.

U.S. stocks tumbled Monday and wiped out even more of their gains since President Donald Trump ’s election in November, after he said that tariffs announced earlier on Canada and Mexico would take

The Dow, S&P 500 and Nasdaq Composite fell sharply hours before President Trump’s tariffs on Canada and Mexico go into effect with no chance of a last-minute deal.

Stocks fall sharply Monday, extending declines in late afternoon trade as President Donald Trump affirmed 25% tariffs on imports from Canada and Mexico will take effect. Earlier, stocks felt pressure after a weaker-than-expected February reading for a key manufacturing index.