US stock futures pointed to sharp losses for the major indexes, as Wall Street showed the effects of President Donald Trump’s announcement of tariffs on China, Mexico, and Canada.

Nasdaq futures (NQ=F) have dived 2.7%, leading the way down. S&P 500 futures (ES=F) spiraled 2%, and futures attached to the Dow (YM=F) stumbled 1.4%, or around 600 points.

The tariffs, set to take effect on Tuesday, will include 25% duties on Canada and Mexico and 10% on China. Energy imports from Canada will be lower with a 10% duty.

On Sunday evening, the US dollar index (DX=F) rose to near its highest levels over the past year. Crude oil (CL=F) also jumped around 2%.

Source: FINANCE.YAHOO