Fears of a recession cause U.S. markets to decline as Trump imposes more tariffs on Canada.

Even though there are growing concerns that President Donald Trump's trade policies could lead to a recession, U.S. stock indexes fell in early trading on Tuesday after he announced more tariffs on Canada.

At 10:33 ET (14:33 GMT), the 30-stock Dow Jones Industrial Average had down 451 points, or 1.1%, the tech-heavy Nasdaq 100 had dropped 88 points, or 0.5%, the benchmark S&P 500 had dropped 43 points, or 0.8%.

Following a sell-off last week, the S&P 500 fell on Monday, and the Nasdaq 100 experienced its worst day since 2022. Additionally, the Dow Jones Industrial Average fell. Trump signaled some economic turbulence over the weekend and refused to rule out a recession as he implemented his policy agenda, which includes imposing tariffs on both allies and enemies.