U.S. stock markets reacted negatively on Monday after President Trump announced via social media that he would unilaterally impose 25% trade tariffs on Japan and South Korea. The tariffs target two of America’s closest allies and key suppliers of autos,

Wall Street's main indexes extended their fall on Monday after U.S. President Donald Trump said he would impose a 25% tariff on goods from Japan and South Korea, starting on Aug. 1.

Wall Street's indexes dropped on Monday after President Trump announced a 25% tariff on goods from Japan and South Korea, set to begin on August 1. The Dow Jones fell 456.55 points, the S&P 500 dropped 53.