US stock futures took a nosedive Sunday, just a day after President Trump revealed plans to impose new tariffs on key trading partners. The announcement has already sent ripples through the market, with Dow futures dropping 1.4%, S&P 500 futures falling 1.9%, and Nasdaq futures sliding 2.4%. Bitcoin wasn’t spared either, losing 3.5% in value over the last 24 hours.

The tariffs, set to go into effect Tuesday, include a 25% levy on goods from Canada and Mexico and a 10% charge on Chinese imports. This move has sparked swift reactions from these countries. Mexico and Canada have already vowed to hit back with their own tariffs, while China plans to file a complaint with the World Trade Organization.

Canada’s Prime Minister Justin Trudeau said the immediate tariffs will target $30 billion worth of US goods, with another $125 billion potentially affected in the coming weeks. Over 1,200 products are on the list, including items like orange juice and produce, which could hit states like Florida hard.

The financial fallout isn’t limited to stocks. The Mexican peso and Canadian dollar both weakened against the US dollar, and the Chinese yuan hit a new low. Economists warn that American families could feel the pinch, with everything from groceries to gas potentially becoming more expensive.

As the market braces for a rocky Monday, all eyes are on how these tariffs will reshape trade relationships and impact everyday consumers. Stay tuned for updates as this story develops.