Trade War Fears Trigger Market Selloff, Weighing on Automakers, Tech, and Crypto Stocks

A broad market pullback occurred on Monday after U.S. President Donald Trump announced sweeping tariffs against Mexico, Canada, and China, sparking fears of a global trade war.

The move sent investors into the safety of the dollar and U.S. Treasuries, while major automakers and tech stocks saw significant declines. General Motors, Ford, and Tesla all dropped, while Big Tech stocks like Microsoft, Apple, and Amazon also took hits. E-commerce firms, including Alibaba and PDD Holdings, faced losses as well. Cryptocurrencies were not spared, with major exchange and mining stocks falling sharply.

Experts warned that the tariffs could disrupt supply chains, depress business sentiment, and add to global economic uncertainty.

Trump acknowledged the potential short-term disruption, suggesting more substantial tariffs might follow for the European Union.