U.S. stock-index futures opened sharply lower and oil prices jumped Sunday night and investors braced for volatility across financial markets after President Donald Trump over the weekend announced heavy tariffs on imports from Canada,

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.

THIS IS A BREAKING NEWS UPDATE: (AP) Worries about President Donald Trump’s tariffs are hurting U.S. stocks. The S&P 500 sank 1.7% in early Monday trading following similar losses for markets across Asia and Europe. The Dow Jones Industrial Average fell 557 points, and the Nasdaq composite dropped 2.1%.