Stock futures tumbled Sunday night to kick off a new trading month, as investors weighed new U.S. tariffs on goods from key trade partners and their potential impact on the economy and corporate profits.

KEY TAKEAWAYS U.S. stock futures are tanking after the Trump administration imposed tariffs on goods from Mexico, Canada, and China that are due to take effect Tuesday.Shares of automakers, which assemble vehicles in Canada and Mexico and import parts from China,

U.S. futures and global stocks were hit by a selloff early on Monday as markets around the world braced for a potential trade war triggered by President Donald Trump’s decision to impose sweeping tariffs on imports from Canada, Mexico, and China—which he acknowledged will cause “some pain” for American consumers.